The major currency pair is slowly falling on Thursday afternoon; investors are waiting for the news.
EURUSD is falling a bit and saving strengths in anticipation of the news. The current quote for the instrument is 1.1300.
There will be a lot of interesting numbers today. In the afternoon, the Euro Area will publish the preliminary report on the GDP in the first quarter 2019. The indicator is expected to add 0.2% q/q, the same as before. One should pay attention to new orders, business activity, and investments.
The European Central Bank is going to have another meeting on Thursday to discuss its monetary policy. The regulator is not expected to revise the rate – it will probably remain at zero. The most important information for investors will be available after the meeting. The key driver for EURUSD is the future financial outlook, which may include such things as the Brexit’s influence on the Euro Area economy or the way the Euro Area handles decline in consumption. Of course, the ECB will comment on the rate and its dynamics. There might be some words relating to TLTRO.
Usually, EURUSD is very active during the ECB meetings, so it may really plunge, just in case, and then recover slowly while the news is being announced.
In the evening, the USA are scheduled to publish the weekly report on the Unemployment Claims, which is not expected to change. There will be several minor reports, such as the Nonfarm Productivity in the fourth quarter (expected to be worse than the quarter before) and the Unit Labor Costs (better that in the third quarter). Most likely, the American currency will not pay much attention to these reports and may prefer to save strengths in anticipation of tomorrow’s numbers on the US labor market.
Orgin: RoboForex
