The main currency pair is trading unsteadily, but is still “in the black” despite some strong American statistics.
On Thursday evening, the EUR/USD pair is growing, although just a bit. The current quote for the instrument is 1.0708.
This evening, the USA published a lot of statistics. So, the Housing Starts in October was 1.323 million against expectations of 1.156 million. It might indicates that the demand for new houses is strengthening until the mortgage rate is not increased.
The Initial Jobless Claims was 235K against expectations of 257K, which is also rather positive.
The Inflation Rate in October, seasonally adjusted, added 0.4% m/m, just as expected. The Core Inflation Rate increased by 0.1% m/m against expectations of 0.2% m/m. Despite such obvious difference between the two indicators, one can see that the CPI is getting back to life. The Fed is sure to take it into account when changing its monetary policy.
The Philadelphia Fed Manufacturing Index in November increased by 7.6 points against the expected reading of 8 points. Perhaps, this is the only report that fell behind market expectations this evening.
Right now, all eyes if the market are focused on Janet Yellen’s report to the Congress on Thursday. She is very unlikely to say something sensational right now. The December meeting suits this purpose much better, because it’s the perfect time for announcements and bitter comments. Today, however, Yellen might state the facts of economic stabilization.
RoboForex Analytical Department
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