The EUR/USD pair is looking stable on Wednesday despite changes in investors’ sentiments and the oil’s rally.
On late Wednesday afternoon, the main currency pair is slowly retreating, but overall is looking stable. The current quote for the instrument is 1.0634.
While most global investors are monitoring the oil frenzy, the market is not influenced by statistical reports too much. Germany published the Retail Sales in October, it added 2.4% m/m against expectations of 1% m/m. On YoY, the Retail Sales lost 1%.
It seems that in October supermarkets and shops were preparing for Christmas: getting rid of remaining offers and giving discounts for off-season merchandise. The October Retail Sales reading was the best over the five years. In addition to that, Germany released the Unemployment Change. In November, the indicator decreased by 5K.
The Eurozone reported on the Inflation Rate Flash. The CPI in November added 0.6% y/y, the same as expected. The Core CPI expanded by 0.8% y/y.
The USA started publishing statistics on the labor market in November. The first report was the ADP Non-Farm Employment Change. The indicator increased by 216K against expectations of 165K. The data is positive, and it’s a good signal. However, as previously noted, there is no direct correlation between the report from ADP and the NFP statistics to be published on Friday.
RoboForex Analytical Department
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