EURUSD is busy consolidating. Overview for 16.04.2019

The major currency pair got a chance to consolidate while there is no any significant news. 

EURUSD remains positive on Tuesday, but market players are not very active. The current quote for the instrument is 1.1311. 

The US President Donald Trump continues putting his verbal pressure on China and global capital markets. While leading roundtable discussion in Burnsville, he noticed that the USA would win trade wars against China anyway. He said that the USA would be at advantage in both cases, if the trade agreement was singed or not. For investors, it’s another signal that talks are obviously still in progress for some reason:  most likely, the USA are once again laying down rather severe demands, thus deferring complicated discussions. 

As a matter of fact, Trump has been very active recently. Earlier, he slowed down the USD growth rate by paying investors’ attention to the fact that the rally in American stocks and indices might be more impressive if it was not for the US Federal Reserve and its aggressive monetary policy. It wasn’t the first time the American leader blasted the national regulator, even after the latter announced its intentions to keep the benchmark rate intact this year. 

The macroeconomic calendar is almost empty today. In the afternoon, the Euro Area and Germany will report on the ZEW Economic Sentiment for April. Both reports may recover after drawdown last month, but EURUSD is not very likely to respond to them. 

In the evening, the USA are scheduled to publish the Industrial Production report for March. According to forecasts, the indicator may add 0.2% m/m after expanding by 0.1% m/m the month before. The Capacity Utilization Rate might also improve. The stronger the readings, the better for the USD.