Last night, the major currency pair was trading downwards. However, this morning it is trying to regain its positions.
On Wednesday morning, EURUSD found support; right now, it is trying to recover after falling yesterday evening. The current quote for the instrument is 1.1213.
Investors’ attention is still focused on trade talks between the USA and China. Probably, if the US President weren’t so active in social networks, the world would never know that the negotiating table was a seething cauldron of emotions. Yesterday, Trump noticed that prospects of trade talks might become clearer in the coming days and he believed that they would be successful. However, his words are open to various interpretations.
The macroeconomic calendar is still quite busy. In the afternoon, the Euro Area will publish the preliminary GDP report for the first quarter 2019. Market expectations are +0.4% q/q, the same as before.
Later, the USA are scheduled to publish several reports. First of all, the Retail Sales in April, which is expected to add only 0.2% m/m after skyrocketing by 1/6% m/m the month before. The Core Retail Sales may increase by 0.7% m/m over the same period, which is not bad at all.
Apart from this, market players may find interesting some other reports, for example, the Industrial Production for April. After losing 0.1% m/m in March, the expected reading for the indicator is 0.0%, which may probably be a result of the trade conflict with China. The Capacity Utilization Rate may go from 78.8% in March to 78.7% in April. The stronger the data on the Industrial Production, the better for the American currency.
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.