FOREX overview. The USD stopped falling

rub-l11The main currency pair is trading near two weeks’ highs, but investors aren’t sure whether they are going to continue buying it.

On Thursday afternoon, EURUSD is quite neutral. After several days of active decline, the USD took the lead from the Euro and reached stability. The current quote for the instrument is 1.2364.

After rather mixed statistics on the US Consumer Price Index that were published yesterday, the USD remained weak against the Euro. However, after the FOMC Meeting Minutes, which became available later, investors’ attitude to the American currency started improving.

The report said that the increase of the regulator’s benchmark rate in the mid-term might be an appropriate decision and some of the FOMC members agreed that a gradual tightening the monetary policy would be also appropriate in case the country’s economy continued improving and became more stable. Possible risks were considered as balanced and the inflation might continue strengthening pretty fast.

It’s quite interesting that short-term US GDP expectations were revised downwards while long-term ones – upwards, because the regulator was expecting the budget issue to be solved positively. Nevertheless, no one worries about the first quarter 2018 reading, but the slow growth of personal incomes may spoil the overall picture a little bit.

Apart from other things, the regulator’s members are confident that the changes in the US taxation system are surely to have positive effect on economic growth parameters.

Orgin: RoboForex

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