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Home / Analytics / Forex analysis & forecasts / Forex Fundamental analysis / The Euro remains in the range. Overview for 27.07.2016
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The Euro remains in the range. Overview for 27.07.2016

27.07.2016
The main currency pair is growing a little bit inside a narrow trading range in anticipation of the results of the FOMC meeting.

Well, it’s the zero hour – the first meeting of the USA FOMC after the brexit. The Bank of England and the ECB preferred just to state that risks existed and watch the course of events, but the FOMC never commented on the United Kingdom situation. The current quote for the EUR/USD pair is 1.0997.

Yesterday’s statistics showed that the number of orders for durable goods in the USA in June decreased significantly, by 4% m/m, against the predicted number of 1.1%. At the same time, the May statistics was revised from 2.3% m/m to -2.8% /m. The main pressure is coming from transport demand decline, in all fields – from civil aviation to personal vehicles. At the same time, the number of orders for durable goods in the non-military sector in June increased by 0.2%. No one cut down financing of the Pentagon, but the demand is reducing.

Earlier today, Germany published the report on the consumer confidence index from GfK for this August – the indicator increased up to 10 points against the expected number of 9.9 points. The statistics is good, but it hasn’t been able to support the Eurocurrency single-handedly.

No one is waiting for any specifics from the FOMC meeting. Most likely, Janet Yellen will take a side with her colleagues from the BoE and the ECB – to wait and watch, because the brexit hasn’t take place yet.
 
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