Pressure on the Euro continues. Overview for 17.05.2018

17.05.2018

On Thursday afternoon, the main currency pair remains under pressure; investors’ attitude is in favor of the USD.

EURUSD continues falling on Thursday. The current quote for the instrument is 1.1790.

There wasn’t much news that might be important for the main currency pair today, that’s why investors are still analyzing the information they received earlier. Mostly, this is about the April Industrial Production report published by the USA.

The statistics showed that the above-mentioned indicator expanded by 0.7% m/m in April after adding the same in March and against the expected reading of +0.6% m/m. The Capacity Utilization Rate added some momentum, because it also improved, from 77.6% to 78.0%.

The numbers from the construction sector were quite mixed. The Housing Starts in April was just 1.29M after being 1.34M in the previous month and against the expected reading of 1.32M. At the same time, the Building Permits was the same as expected, 1.35M. However, it is still less than the month before, 1.38M.

In the evening, the USA will report on the Unemployment Claims and the CB Leading Index in April. The indicators aren’t expected to provide any significant changes, but one shouldn’t relax with the market being as volatile as today.

 

RoboForex Analytical Department

 

Attention!

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.

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