The major currency pair is going to save strengths on Thursday – the macroeconomic calendar is empty and the USA are celebrating the Independence Day.
On Thursday morning, EURUSD stopped falling and started consolidating. The current quote for the instrument is 1.1284.
The USA published a lot of interesting numbers yesterday, but investors didn’t’ seem to have enough strength and time to respond to it properly. For example, the ADP Non-Farm Employment Change showed 102K in June after being 41K in May and against the expected reading of 140K. There is no direct correlation between the ADP and the NFP, but like we mentioned before, it may provide insight into sentiment in the sector.
The weekly report on the Unemployment Claims showed 221K after 229K the week before. However, the numbers are inside the usual range of 210-235K, that’s why market players’ response was pretty calm.
The Factory Orders in the USA lost 0.7% m/m in May, which is worse than expected (-0.4% m/m), and continued the negative tendency. The report is a component of the Durable Goods Orders report published earlier, so the decline wasn’t surprising, but additional indication of problems in the country’s production is not a good sign anyway. ,
The USA have a holiday today as they are celebrating the Independence Day. As a result, activities on the market may be less volatile.
In the afternoon, the Euro Area is scheduled to report on the Retail Sales for May, which is expected to add 0.4% m/m after losing the same in the previous month. However, this report is rather neutral for EURUSD.
Orgin: RoboForex
