Single Currency Dropped, Germany In Standby Mode

Euro/Dollar pair declined 0.04% to trade at 1.1789. German Purchasing Price Index is sticking at 0.3%. US Building Permits for single-family homes rose to 1.30M. In annual terms, the pace of building permits growth in October reached the ten-year maximum. Housing Starts grew to 1.29M. Mario Draghi is about to give speech before the European Parliament Economic and Monetary Affairs Committee. His comments will be closely listened to. Angela Merkel didn’t manage to create a coalition with Free Democratic Party and Greens. The Chancellor is about to negotiate with leaders and figure it out, but so far, Germany will remain in the standby mode.