The main currency pair is strengthening on Thursday afternoon, while the US Dollar is reacting to the oil prices swing.
The Eurodollar is growing on Thursday afternoon. There haven’t been any particular reason for optimism since yesterday, but investors have to respond to the oil market swings, which influence the Dollar in any case. Hence the growth of the main currency pair, not big, but stable. The current quote for the instrument is 1.1169.
The statistics, which is interesting and influential for this pair, will be published in the evening. The USA are preparing the information about durable goods orders in April and the weekly report on jobless claims. Yesterday’s statistics was quite weak. Activity levels in the service industry in the USA are still rising, but not as fast as before. The preliminary calculation of the PMI in the tertiary industry reduced up to 51.2 points against the expected number of 53.1 points and 52.8 points previously. Markit Economics comments say that in some cases, companies reported about disinterest in new projects.
The market attention is divided into two parts. The first one is oil prices volatility, which makes investors feel nervous. The second one is the anticipation of Janet Yellen’s speech tomorrow. In her comments, the market is hoping to find any hints to the results of the regulator’s meeting in June. Yellen is unlikely to say something expressly, it is against the FRS’ principles lately, but one can count on a reasonably optimistic rhetoric.
RoboForex Analytical Department
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