The Euro’s another attempt to grow. Overview for 17.05.2019

On Friday morning, the major currency pair reached stability. Once again, it is attempting to fix and grow. 

EURUSD was weak yesterday evening, but today investors are trying to buy. The current quote for the instrument is 1.1176.

The US 10Y rebounded yesterday and supported the USD. Another thing in favor of the American currency was the labor market numbers. The weekly report on the Unemployment Claims showed 212K after being 228K the week before and against the expected reading of 220K. 

Today’s macroeconomic calendar is not too busy. In the afternoon, the Euro Area will report on the CPI in April, which is expected to remain at 1.7% y/y. It’ is lower than the target set by the European Central Bank, 2.0% y/y. the weaker the inflation in the Euro Area, the more probably it will require new tools and conditions to support the economy. 

In the evening, the USA will publish the preliminary report on the University of Michigan Consumer Sentiment for May, which may increase up to 97.8 points, a good signal for the USD. At the same time, there will be the CB Leading Index in April, which is expected to add only 0.2% m/m. The latest number is a moderate risk for the American currency.