On Friday, the main currency pair is moving slowly; investors prefer to wait for the American statistics on the employment in the evening.
On Friday afternoon, the EUR/USD pair is moving without any ideas. It seems that investors are trying not to be very active because of the statistics on the US employment market, which will be published in the evening. The attention to the report is rather significant: the May’s reports were disastrous, and now everyone is waiting for a positive correction. The current quote for the instrument is 1.1063.
According to the statistics published today, production volume in the processing industry in Germany in May reduced by 0.8% m/m against the increase of 0.8% in April. On a year-on-year basis, the volume reduced by 0.3% y/y against the increase of 1% in April. France also has nothing to be proud of. In May, the industrial production in the country reduced by 0.5% m/m after the increase of 1.2% m/m in April.
The industrial production and the processing industry numbers are very unstable, which means that these sectors are vulnerable and lack steady foundation for growth of both the production volume and prices. It might become a real problem for European countries in the future, because the industrial production usually provides a significant support for the global GDP.
Today, there is little attention to the statistics from Europe as everyone is waiting for the reports from the USA. Judging by the market sentiments, market players are ready to take their lead from everything.
RoboForex Analytical Department
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