EURUSD is trading quietly early in the week. Overview for 29.10.2018

The major currency pair is stable on Monday; the week is going to be filled with numbers.

EURUSD is trying to keep balance on Monday. The current quote for the instrument is 1.1394.

Last Friday, the American currency was somehow supported by the US GDP report over the third quarter 2018. According to the report, the indicator increased up to 3.5% q/q after being 4.2% q/q in the second quarter and against the expected reading of 3.3% q/q. However, investors had no doubts that the actual number would be less than the previous one.

Nevertheless, the growth of the American GDP over the last two quarters was more than 3%, which can make annual growth rate exceed the same 3%. It might be the strongest growth of the American economy over the last 13 years.

The components of the report show that the inflation growth slowed down a bit. At the same time, the PCE (Personal consumption expenditures) added 4%, which was better than in the previous quarter. On the other hand, there were several indicators that got worse, including the Fixed investment and Exports. One more positive thing was the Government spending and investment, which increased by 3.3% this quarter above 2.5% the quarter before.

It’s quite clear that the components are very mixed, thus preventing investors from making any conclusions. However, the US economy is feeling fine so far and that’s enough for them.

This week, there will be a lot of macroeconomic statistics to make investors trade more active. Today, the USA is scheduled to report on the Personal Spending and Income. On Tuesday, the USA will published the CB Consumer Confidence and the Euro Area and some European countries will report on the GDP. Also, this week the British and Japanese regulators will have their meetings and the Euro Area will publish the Inflation Rate in October. In other words, investors will surely have plenty of information and numbers to help them make trading decisions.