The major currency pair is going to have a relaxing Friday after rather volatile Thursday.
EURUSD needs to take a break for recovery after such a volatile trading session that took place yesterday. The current quote for the instrument is 1.1241.
Yesterday, the American currency was supported by the March Retail Sales and the Unemployment Claims reports. The first indicator added 1.6% m/m, which is better than both previous and expected reading. As a matter of fact, it’s the highest growth over the last 18 months. The second one showed 192K, which is the lowest reading over almost 50 years. The indicator has been stable for several weeks, that’s why this unexpected decline made the USD very volatile.
Today’s trading session will be quiet in the calendar. Most catholic countries are already celebrating Good Friday in anticipation of Easter.
Later in the afternoon, the USA will publish the Housing Starts for March, which is expected to improve significantly – a good sign for the USD. In addition to that, there will be the Building Permits, which may also increase.
Overall, major currency pair may consolidate throughout the day in narrow ranges due to low volatility.