On Thursday, the major currency pair will save strengths before a volatile trading session on Friday.
EURUSD is trading very slowly on Thursday afternoon. It looks like investors prefer not to “plough the sands” and save strengths for the week finale – they could use them. The current quote for the instrument is 1.1233.
Yesterday, the USD finally retreated and helped the European currency to recover. First of all, the numbers from the Euro Area turned out to be better than expected. Secondly, investors’ concerns about the US-Chinese trade talks moved away a little bit. Today’s economic calendar is pretty quiet: China has a holiday, while other countries aren’t scheduled to publish any important information.
In the morning, Germany reported on the Factory Orders, which lost 4.2% m/m in February after decreasing by 2.1% m/m the month before and against the expected reading of +0.3% m/m. this is another signal that the economy of the major European powerhouse is slowing down. However, the Euro barely paid attention to the report, although it has been very sensitive to the German statistics recently.
In the afternoon, the Euro Area will present the ECB Monetary Policy Meeting Accounts. Market players are very unlikely to find anything interesting in the document: unlike the US Federal Reserve, the European regulator doesn’t like giving any hints.
In the evening, the USA are schedule to report on the Unemployment Claims. The indicator is expected to be 215K this week after being 211K in the previous one. However, 15K give or take may probably go unnoticed.
Orgin: RoboForex
