The major currency pair managed to balance on Friday; markets are reaching stability and looking for new support factors.
After completing a descending correcting, EURUSD reached stability by the end of the trading week, which turned out to be very emotional and volatile. Now, investors need time to put their nerves and portfolios in order. The current quote for the instrument is 1.1803.
The statistics published by the USA yesterday showed that the country’s CPI didn’t change in October if compared with the previous month. In September, the indicator was 0.2% m/m and market expectations implied the same to happen in October. The Core CPI showed the same – 0.0% m/m against the expected reading of 0.2% m/m.
The components of the report show that the biggest contribution to the decline was made by medical care commodities dropped, energy prices, and transportation services. On the other hand, such aspects as food, shelter, apparel softened, cars and trucks, new vehicles remained unchanged or even added a little bit.
It’s clearly seen that inflation is rather restrained because the pandemic consequences still influence a lot of consumer areas. The tertiary industry is looking inactive, thus preventing the CPI from stable growth. By the way, weak inflation of the lack of it may harm the economy much worse than when inflation is skyrocketing.
The Initial Jobless Claims in the USA was 709K last week against the expected reading of 735K, and that’s a seven-month low. It’s a good result that should have a positive influence on the unemployment statistics for November.
Orgin: RoboForex
