The “greenback” dominates the market. Overview for 18.11.2021
EURUSD stopped falling on Thursday, but investors are still interested in the “greenback”.
The major currency pair slowed down its decline and is trying to reach stability. The current quote for the instrument is 1.1330.
The craze in the USD has died down, but it may not be for long. Strong statistics from the US published earlier allow the Fed to reduce the stimulus programme ahead of schedule. This is good news for the USD enthusiasts, because the regulator’s next move may be the benchmark interest rate revision.
In addition to that, the infrastructure plan signed by the White House is an absolute “plus” for both the country’s economy and the USD.
Yesterday, the Euro Area published the final inflation report for October. The indicator matched the preliminary reading of 4.1% y/y. At the same time, the Core CPI was lower than expected, 2.0% y/y versus 2.1% y/y. Still, it’s not bad as there are expectations that the CPI may stop increasing in the nearest future.
The Building Permits in the US showed 1.65M in October after being 1.59M in September. The Housing Starts showed 1.52M against 1.53M over the same period of time.
Overall, the real estate market data seems quite stable and has a positive influence on, among other things, consumer purchasing power.
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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