Analysis EUR/USD. Pair is too active

EuroUSDEURUSD managed to recover after plunging earlier; the asset remains volatile at the end of the week.

On Friday morning, the major currency pair is looking rather neutral despite its volatility, which makes market players nervous. The current quote for the instrument is 1.2095.

The “greenback” owes its strength to the rise of US bonds on the debt market.

The weekly Unemployment Claims data wasn’t good: the indicator showed 861K after being 848K the week before and against the expected reading of 775K. The labor market remains rather complicated and the numbers confirm it.

The January readings on the real estate market also were rather mixed. For example, the Building Permits showed 1.88M after being 1.7M the month before, while the Housing Starts reported at 1.58M after being 1.68M in December. It means that construction companies are still not quite sure about the demand in the future despite low interest rates.

There will be a lot of interesting statistics today. Both the Euro Area and the USA are scheduled to report on the Manufacturing and Services PMIs for February, which are expected to improve a little bit. Later, the USA will publish the Existing Home Sales data, which may reduce a bit.

In the evening, the US Fed will release its Monetary Policy Report that is expected to contain information about additional stimulus measures to support the American economy, as well as the whole economic situation outlook.

Orgin: RoboForex

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