The market major used the US statistics quite efficiently. The current quote is 1.0650.
EURUSD is trying and trying to grow, though investors look quite tired after the active week.
The US statistics published yesterday demonstrated a decline in November retail sales by 0.6% m/m, while a decline by 0.2% had been forecast after previous growth by 1.3% m/m. Retail sales minus cars dropped by 0.2% m/m, while the forecast had suggested growth by 0.2%. Industrial production in the US in November dropped by 0.2% m/m upon falling in October by 0.1% m/m. Meanwhile, growth by 0.2% m/m had been expected. Production power load dropped to 79.7% from 79.9% previously.
Obviously, the US economy is falling deeper in recession though officials would not admit it.
The December meeting of the European Central Bank resulted in the expected increase in the interest rate by 50 base points, to 2.50% a year. The rhetoric of the regulator was unexpectedly tough, but this only supported the EUR. Christine Lagarde commented that global growth had slowed down due to tightening of financial conditions; weakening of the economy might lead to a certain increase in unemployment. Financial measures can increase inflation stress but the ECB risks it to reach long-term goals. Judging by their reactions, investors were satisfied.
Free Reports:
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
By JustMarkets At Thursday’s close, the Dow Jones Industrial Average (US30) was up 1.06%. The…
By RoboForex Analytical Department The USD/JPY pair remains stable at approximately 154.30 amid global economic…
By L. Beril Toktay, Georgia Institute of Technology; Abhinav Shubham, Georgia Institute of Technology; Donghyun…
By Jaeyeon Chung, Rice University Think back to a time when you needed a quick…
By Andrew J. Hoffman, University of Michigan Home insurance rates are rising in the United…
By JustMarkets At Wednesday’s end, the Dow Jones Index (US30) rose by 0.32%. The S&P…
This website uses cookies.