The Euro is retreating. Overview for 16.01.2017

The main currency pair started the week with a decline, but is hardly to be sold actively particularly on Monday.

The currency market is not too active at the beginning of the third week of January: the US markets are closed today due to the celebration of Martin Luther King Jr. Day, so there will be no statistics from the country this evening. When it comes to the daily reports from Europe, investors have already responded to them and the EUR/USD pair started moving in the flat. The current quote for the instrument is 1.0583.

Daily statistics from Europe showed that the Trade Balance surplus in November 2016 was €22.7B, which is more than the October reading of €19.9B. The export is still better than the import and it influences the entire report. The export in November added 3.4%, the import expanded by 1.8%. On YoY, the indicators improved by 6% and 5% respectively.

This week is going to be very interesting for the capital markets. In the USA, the era of democratic ruling will be officially over and the era of Republicans will start: on January 20^th, Donald Trump, the president elect, will be officially inaugurated. Starting this date, the new American leader might as well change the country’s policy and economy based on his electoral programme, which, in its turn, is rather aggressive. However, if one talks about such a big country as the USA, these changes surely won’t be fast.

Anyway, after the inauguration, Trump is sure to make some comments relating his first steps as the American president and the market is ready to response.

RoboForex Analytical Department