Yesterday data on France and Germany was worse than forecasts. Trade Balance in France was -4.9 billion euro vs. estimates for -4.8 billion; Germany’s Factory Orders in August against estimates for a 1.2% growth declined 0.3%. Today at 14:00 UTC+4 data on Industrial Production in Germany in August is issued; forecast 1.1% vs. -1.7% in July. Now we may expect data weaker than estimates. At 22:00 UTC+4 FOMC meeting minutes are published today. The first bearish target is the area 1.3537/42 with consolidation under which the second target opens 1.3495, support of trend line on the daily chart.
