The Euro is looking down again. Overview for 20.01.2020

The major currency pair remains under pressure on Monday; the USD continues getting stronger.

On Monday, EURUSD is still under “bearish” pressure. The current quote for the instrument is 1.1085. 

The statistics published last Friday showed that the Industrial Production in the USA lost 0.3% m/m in December after adding 0.8% m/m in November. It happened due to a large decrease in demand for heating, as unseasonably warm weather in December followed unseasonably cold weather in November. Basically, the same may happen in January and it’s not good news for the country’s GDP.

The Capacity Utilization Rate in the USA was 77.0% in December, which is much worse than the November reading of 77.4%. 

One more report, the Building Permits, showed 1.42M in December after being 1.47M in the previous month. The Housing Starts was 1.61M against 1.38M over the same period of time. This indicator wasn’t expected to change, that’s why its improvement was a pleasant surprise for market players. 

Today, the USA is having a holiday, Martin Luther King Jr. Day, so the macroeconomic calendar is empty.