The Euro is looking for the opportunity to grow. Overview for 09.04.2020

The major currency pair is slowly growing on Thursday; market players are analyzing catalysts.

EURUSD is recovering after yesterday’s decline. The current quote for the instrument is 1.0871.

The FOMC Meeting Minutes published yesterday states tensions of trade conditions on some markets, as well as a rapid decline in the market liquidity. 

The document says that short-term economic outlook and expectations became much worse and uncertain. Apparently, this was the reason for the interest кate cut. In fact, the report didn’t offer investors anything they didn’t know before.

Today, the USA is scheduled to publish a weekly report on the Unemployment Claims, which is expected to show 5M after being 6.648M last week. The coronavirus pandemic continues being a job killer for a lot of people who work in the service industry. However, if the previous trend slows down, it will surely be a positive signal. 

In the evening, market players should pay attention to the PPI, which may lose 0.3% m/m in March. Moreover, there will be a preliminary report from on the Consumer Sentiment in April from the University of Michigan, which is expected to go from 89.1 to 75.0 points.