Thursday morning, EURUSD is recovering smoothly and looks rather calm, trading at 1.1240.
Yesterday the International Monetary Fund stated that the dollar is currently overpriced by the market for 6-12%, judging by the short-term economic parameters. Conversely, the euro, yen and yuan were called fundamental.
Today the USA is preparing for publication the statistics of primary applications for unemployment payment during the week; the average expectation is 216 thousand against 209 thousand the previous week. Anyway, as long as the index remains between 205 and 225 thousand, the market remains calm.
Later, the Federal Reserve Bank of Philadelphia will publish the data on the business index in industry in July; the index is supposed to have grown by 5 points against 0.3 point before. This is the leading index for the national ISM Manufacturing report coming in two weeks, that is why its value is so important.
The index of the leading indicators in the US in June will also be published; it may have grown by 0.10 points against 0 in May.
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.