The main currency pair stopped rising quickly on Thursday; investors are waiting for the news.
On Thursday afternoon, the EUR/USD pair stopped growing and right now is consolidating inside narrow range. The current quote for the instrument is 1.1840.
Yet, in the first half of today’s trading session the Euro was growing due to the statistics. Today they reported that the Industrial Production in the Eurozone expanded by 1.4% m/m in August after adding 0.3% m/m the month before and against the expected reading of +0.6% m/m. The components of the report show that intermediate, capital, and non-durable consumer goods increased by 1.2% y/y, 3.1% y/y, and 1.3% y/y respectively.
As a result, today’s report turned out to be the strongest over the last 9 months.
The statistics being published by the USA this evening is rather good so far and it helps the EUR/USD par to get stabilized. The Initial Jobless Claims over the week by October 7th was 243K after being 258K the week before and against the expected reading of 251K. The labor market remains stable – it continues to improve slowly, and that’s the good news. The PPI added 0.4% m/m in September, the same as expected. The Core PPI also expanded by 0.4% m/m after adding 0.1% m/m and against expectations of 0.2% m/m.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.