The Euro is correcting after updating its monthly highs. Overview for 16.04.2021


EURUSD is falling after reaching its monthly highs.

The major currency pair is expectedly correcting after rallying earlier. The current quote for the instrument is 1.1960.

The statistics published by the USA turned out to be rather mixed but still positive. For example, the Retail Sales skyrocketed by 9.8% m/m in March after losing 2.7% m/m in the previous month and against the expected growth by 5.8% m/m. However, this was expected as a lot of people got some financial support from the government, and this money returned to the economy right away. in addition to that, weather conditions became more stable, thus making consumers more mobile. The Core Retail Sales showed 8.4% m/m after being -2/5% m/m over the same period of time. The indicator was expected to add 5.1% m/m. 

The Industrial Production in the USA added 1.4% m/m in March after losing 2.2% m/m the month before and against the expected reading of 2.7% m/m. However, no matter how weak the reading is, it’s still the highest over the last 8 months. After the cold weather in February when a lot of manufacturers reduced their activities, everything is going back to normal. The Capacity Utilization Rate in March was 74.4% after being 73.8% in the previous month. 

The weekly report on the Unemployment Claims showed 576K after being 769K the week before and against the expected reading of 703K. 

Many experts have already said that the labor market data might not be objective.


Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.