Yesterday, EURUSD significantly improved thanks to stable numbers improved attitude to risks.
The major currency pair is looking stunningly in the middle of the week after investors improved their attitude to risks. The current quote for the instrument is 1.1390.
One thing is that right now market players are not worried about a possible escalation in US-Chinese relations and that’s good for traded currencies. Still, it seems a bit strange because both American and Chinese politicians are rather tensed. However, it looks like investors are sure that there won’t be any complications in trade talks.
The other thing is that the European Union is very active in agreeing on the stability fund volume. The EU summit will take place this weekend and everything is good. So far.
In addition to that, the statistics published by the USA last night confirmed that US macroeconomic parameters were reaching stability. For example, the CPI added 0.6% m/m in June after losing 0.1% m/m the month before. The Core CPI was +0.2% m/m against -0.1% m/m over the same period of time although it was expected to add 0.1% m/m.
Later in the afternoon, market players should pay attention to the Beige Book along with the Industrial Production (expected to recover by 4.5% m/m after adding 1.4% m/m in May) and the Import Prices. If the statistics are good, it’s highly likely that attitude to risks may get better.
Orgin: RoboForex
