The EUR/USD pair is looking up. Overview for 27.06.2017

The main currency pair is still trading pretty close to 1.12; monetary politicians’ comments really matter. 

The EUR/USD is staying positive and intending to continue growing slowly. The current quote for the instrument is 1.1190.

The market has already included the comments of the FOMC Member, John C. Williams, into the prices. Williams said that the inflation might reach the target level of 2% the next year. According to his opinion, this would afford ground for increasing the key rate in the future.

However, the statistics from the USA reduced his positive attitude to zero. The Durable Goods Orders decreased by 1.1% m/m in May after losing 0.8% m/m the month before and against the expected reading of ‑­0.5% m/m. The major contribution to this decline was made by the transport sector, because the Core Durable Goods Orders added 0.1% m/m last month. Yet, it’s still much worse than expected.

There will be several important reports today and we recommend to pay attention to the CB Consumer Confidence in June, which is expected at 116.1 points, worse than in May. Also, the FOMC Member Harker and the Fed Chairman Yellen will deliver their speeches.

Before that, the ECB President, Mario Draghi will open the annual ECB forum in Portugal. He will deliver a speech and investors will look for any hints at possible changes of the regulator’s current monetary policy.

Among other statistics, which is going to be published until the end of the trading week, are the reports on the inflation in the USA and Europe. In addition to them, the USA are going to report on the GDP.

RoboForex Analytical Department