EURUSD found a reason to grow and intends to keep its positive momentum on Thursday.
On Thursday morning, the major currency pair is keeping its positive momentum that started last night. The current quote for the instrument is 1.2177.
The USD remains under slight pressure after the Fed’s comments that its soft monetary policy may continue as long as the country’s economy requires. No one really thought that the stimulus program would be over soon but the regulator’s saying it out loud worked against the “greenback”, as usual.
Later in the afternoon, market players should pay attention to the US GDP report for the fourth quarter of 2020. Average expectations imply 4.2% q/q, which is a bit better than the previous estimate. However, it may well be that the American economy is recovering a bit slower than expected. In this case, the USD will get under pressure again.
Apart from this, the USA is scheduled to report on the Durable Goods Orders in January, which may continue improving. It’s a good mid-term signal for the economy showing consumer activity. Also, it may be important and interesting to see the weekly Unemployment Claims report: last week, the indicator was an unpleasant surprise, so this time it is expected to correct.
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.