On Tuesday, the major currency pair is intending to rise; markets seem rather calm.
EURUSD is trading upwards on Tuesday morning and is looking forwards to recovering after being extremely volatile last week. The current quote for the instrument is 1.1255.
“Greenback” retreated yesterday because of some rather mixed statistics on the Retail Sales in January. The indicator expanded by 0.2% m/m after losing 1.6% m/m in the previous month and against zero expectations. The Core Retail Sales added 0.9% m/m against the expected reading of +0.4% m/m. That’d be okay, but investors were worried by the fact that the December reading on the Retail Sales was revised downwards, thus making the USD retreat.
No statistics from the Euro Area were planned for today.
In the evening, the USA will report on the NFIB Small Business Index in February, which is expected to grow from 101.2 points in January to 102.0 points last month. The growth of this indicator means a lot and is very positive for the American currency.
A bit later, they will publish the CPI report in February. After remaining unchanged in January, the indicator is expected to add 0.2% m/m, which is also quite logical due to slow revival in consumer demand. The stronger the reading, the better for the USD.
Orgin: RoboForex
