On Friday morning, the main currency pair declines, although the euro currency had a lot of chances to strengthen.
This morning the euro/dollar is retreating. The current quote in the main currency pair is 1.0777. However, the European currency could have recovered more significantly from the lows of 1.0691 this week.
Yesterday members of the US Federal Reserve, including its chief Janet Yellen made announcements. Incidentally, she did not give absolutely any comments on the steps of a regulator in December. Others for speaking for her this time. For example, Stanley Fischer, deputy chairman of the Fed, said that the US economy is coping well with weak inflation and a strong dollar. The president of the Federal Reserve Bank of New York, Mr. Dudley said that the timing of a rate hike in the United States can not be predicted with accuracy.
It is logical that the market participants were waiting for clearer signals, since such a significant amount of monetary policymakers decided to speak on the same day. Most of the speakers somehow explained during their speech that the cycle of tightening of the monetary conditions will be slow and "thin". In fact, the investors have received only one signal indicative of a rate hike in December, against the mass of cautious comments.
Today the attention of the markets will be focused on the publication of statistics on retail sales in the United States. The median forecast assumes that the index rose by 0.3% in October, versus a gain of 0.1% in September 2015. Economists say that the indicator can gain a strong momentum from a new product sales by the Apple corporation. The stronger the performance of retail sales, the more the US dollar will appreciate.
RoboForex Analytical Department
Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.