The major currency pair remains under pressure; the USD is fresh as paint again.
On Thursday morning, EURUSD continues falling slowly. The current quote for the instrument is 1.1360.
So, the Euro fell significantly yesterday. Frankly speaking, there are no solid reasons for the American currency to get more expensive apart from the fact that 10-year bonds profitability moved away from local lows. In addition to that, market players were really waiting for the US Federal Reserve Chairman Jerome Powell’s speech, but he didn’t say anything interesting for them. By the way, this week Powell had dinner with the US President Donald Trump. It is known that one of the topics discussed during the meal was the monetary policy. However, if Trump chose not to inform everyone about results of this meeting through his Twitter account, probably they are not so interesting or simply there are some other things, which are more important right now.
It’s quite funny that the White House didn’t need much time to forget about its exasperation towards the Fed and its decision to make a long pause in rate hikes. New comments relating to that appear over and over again and the USD is very calm and neutral in its response to them, although it should fall.
There are no too many numbers today in the macroeconomic calendar. In the evening, the USA are scheduled to report on the Unemployment Claims (previous 253K, expected 223K) and the Consumer Credit in December. The later indicator is expected to reduce due to the seasonal factor and rate hikes. Most likely, this information will be neutral for the USD, that’s why 10-year bond behavior and meetings of monetary policymakers will remain the most important driver for the market.