Euro / dollar tries to recover
16.05.2014
In the relatively quite external background on Friday the main currency pair found some of the support, which it was lacking in order to stabilize - it is possible that today the instrument will be able to slightly strengthen.
The euro/dollar is making another attempt to recover on Friday morning, and if before it was obvious that this rebound continuation will not hold, today's small steps up may well prove to be effective.
Yesterday's report on U.S. industrial production (-0.6% in April after the March figure of 0.9%) has hit the USD positions – before, everything that was published, played against the euro. Now it becomes obvious that the cold winter this year was like a catalyst for exposing some of the structural problems in the U.S. economy.
At the same time, the labour market seems to have survived this period and stabilized - as we remember, not without problems.
The statistical data published on Thursday showed that the number of claims for unemployment benefits last week in the U.S. declined by 24 thousand and came to the minimum level of the last 7 years. Such figures - 297 thousand - were observed in the pre-crisis tranquil May of 2007.
Today especially agitating macro publications are not expected and there is a chance that the euro/dollar will stabilize in the range below 1.3750. Passing that mark will not be possible - at least not yet.
RoboForex Analytical Department
The euro/dollar is making another attempt to recover on Friday morning, and if before it was obvious that this rebound continuation will not hold, today's small steps up may well prove to be effective.
Yesterday's report on U.S. industrial production (-0.6% in April after the March figure of 0.9%) has hit the USD positions – before, everything that was published, played against the euro. Now it becomes obvious that the cold winter this year was like a catalyst for exposing some of the structural problems in the U.S. economy.
At the same time, the labour market seems to have survived this period and stabilized - as we remember, not without problems.
The statistical data published on Thursday showed that the number of claims for unemployment benefits last week in the U.S. declined by 24 thousand and came to the minimum level of the last 7 years. Such figures - 297 thousand - were observed in the pre-crisis tranquil May of 2007.
Today especially agitating macro publications are not expected and there is a chance that the euro/dollar will stabilize in the range below 1.3750. Passing that mark will not be possible - at least not yet.
RoboForex Analytical Department
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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.