The main currency pair reached this week’s highest levels; investors are very cautious in estimating the American currency.
EURUSD continues growing on Tuesday morning. The current quote for the instrument is 1.2408. The pair reached this week’s peaks and is trading towards levels of March 27th.
The main thing that is against the USD is what happened last weekend. After the USA, the UK, and France carried out a missile strike against Syria, investors’ interest in the American currency started fading away, and even the statistics that were published yesterday couldn’t prevent the USD from falling.
The Retail Sales in the USA added 0.6% m/m in March after losing 0.1% m/m the month before and against the expected reading of +0.4% m/m. The actual number broke the downtrend, which had been taking place over the three previous months. The Core Retail Sales expanded by 0.2% m/m over the same period of time. Based on the current numbers, one may assume that the decline is over, but it’s not quite clear yet whether the sector recovers quickly. In some way, the indicator was supported by Easter holidays, when the trade turnover usually improves.
However, another macroeconomic indicator ruined the day. The Empire State Manufacturing Index plummeted up to 15.8 points in April after being 22.5 points in the previous month. The indicator was expected to decrease, but not as much, only up to 19.8 points.