EURUSD is back to falling after the US released some solid statistics.
The major currency pair is falling a little bit early in the week. The current quote for the instrument is 1.1575.
The American statistics published last Friday were inspiring. For example, the Retail Sales added 0.7% m/m in September against the expected reading of -0.2% m/m. At the same time, the August data was revised from 0.7% m/m to 0.9% m/m.
This is good news: over three months, July through September, the indicator added 14.9% y/y. American citizens continue spending money and that’s good for the economy.
As a result, the US Fed has comprehensive information and data necessary for making a stimulus decision. Market players are expecting the regulator to start reducing the QE program as early as November, which is pretty close. If the regulator is going to rely on statistics only, then there are no doubts that now it’s the high tie to cut the program. The economy is doing a great job in handling the situation.
Later today, investors should pay attention to the US Industrial Production report for September, which may show 0.3% m/m after being 0.4% m/m the month before. Another indicator, the Capacity Utilization Rate may go from 76.4% to 76.6%.
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.