The USD is attacking. Overview for 16.01.2019

16.01.2019

The major currency pair is falling on Wednesday afternoon; market players are questioning the Euro’s stability.

EURUSD continues trading downwards in Wednesday. The current quote for the instrument is 1.1380.

At first, the major currency pair got under pressure when Germany and the Euro Area reported on a couple of macroeconomic indicators this Monday. The German WPI lost 1.2% m/m in December after adding 0.2% m/m in the previous month and against the expected reading of +0.3% m/m. Later, the European Industrial Production decreased by 1.7% m/m in November after expanding by 0.1% m/m in October. Of course, both readings didn’t have anything positive for investors. 

The numbers from the USA on Tuesday weren’t good, but the pressure on the Euro continued due to the Brexit vote in the United Kingdom. Market players were trying to avoid risks, that’s why they liked the USD. 

There will be several reports from the USA this evening. The country is scheduled to publish the NAHB Housing Market Index in January and the Import Prices in December (it declined earlier and is expected to continue falling). Later in the evening, investors will see the Beige Book.

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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.