The Euro is confused. Overview for 30.08.2018
news.
On Thursday, EURUSD is getting weaker. The current quote for the instrument is 1.1693.
Yesterday, investors’ undivided attention was focused on the US GDP report in the second quarter. Another revision of the indicator showed +4.8% y/y against the previous estimate of 4.1% y/y. Of course, this a very solid number, because in the previous quarter the GPD added only 2.2% y/y. The country’s economy gained momentum thanks to extensive investments in business structure and slight improvement of consumer spending.
Talking about businesses and enterprises, they are currently making the more profit over the last six years.
Apart from this, the second quarter saw solid improvement in the industrial production, which added 2.9% y/y. This was another reason for the economy growth. Another contribution was made by the export and investments in business.
The numbers published by the USA today were rather mixed, that’s why investors aren’t expected to pay much attention to them. The Personal Spending added 0.4% m/m in July, the same as expected and the previous reading. The Personal Income increased by 0.3% m/m over the same period of time after expanding by 0.4% m/m in June.
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.
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