The major currency pair slowed down its decline, but this may not be for long.
On Tuesday morning, EURUSD is trading downwards after a significant recovery during the previous trading session. The current quote for the instrument is 1.1571.
Yesterday, the USD was forced to retreat by some rather mixed statistics. The Retail Sales in the USA in September turned out to be much worse than expected: the indicator added only 0.1% m/m against the expected reading of +0.7% m/m. The Core Retail Sales lost 0.1% m/m against the expected reading of +0.4% m/m.
As we said earlier, this September, just like last year, was marked by decline in consumer expenditures due to the hurricane season. People had to stay at home because of the bad weather and the sales in restaurants, cafes, hotel, and =small shops declined.
Today’s calendar will be interesting as well. in the evening, the USA will report on the Industrial Production in September. The indicator is expected to expand by 0.2% m/m after adding 0.4% m/m last month. Another interesting report is the Capacity Utilization Rate. In September, it may increase up to 78.2% after being 78.1% the month before.
Apart from this, later in the evening investors will be offered the Treasury Currency Report. The document is highly likely to contain no “breakthrough” data for them, but it is worth paying attention anyway.
Orgin: RoboForex
