Pressure on the Euro continues. Overview for 17.05.2018
On Thursday afternoon, the main currency pair remains under pressure; investors’ attitude is in favor of the USD.
EURUSD continues falling on Thursday. The current quote for the instrument is 1.1790.
There wasn’t much news that might be important for the main currency pair today, that’s why investors are still analyzing the information they received earlier. Mostly, this is about the April Industrial Production report published by the USA.
The statistics showed that the above-mentioned indicator expanded by 0.7% m/m in April after adding the same in March and against the expected reading of +0.6% m/m. The Capacity Utilization Rate added some momentum, because it also improved, from 77.6% to 78.0%.
The numbers from the construction sector were quite mixed. The Housing Starts in April was just 1.29M after being 1.34M in the previous month and against the expected reading of 1.32M. At the same time, the Building Permits was the same as expected, 1.35M. However, it is still less than the month before, 1.38M.
In the evening, the USA will report on the Unemployment Claims and the CB Leading Index in April. The indicators aren’t expected to provide any significant changes, but one shouldn’t relax with the market being as volatile as today.
RoboMarkets Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.