The major currency pair continues growing on Thursday afternoon; investors are still interested in risks.
EURUSD continues rising in anticipation of a soon defeat of the coronavirus pandemic. The current quote for the instrument is 1.1938.
Market players remain positive – they do count that an effective vaccine against the Covid-19 will be available in the nearest future. Such expectations help the Euro to rise high.
The statistics published yesterday showed that the New Home Sales in the USA went up to 999K in October after being 959K in the previous month. The actual reading is better than expected and that’s a quite logical response of the country’s population to low interest rates.
However, there is something interesting. The Personal Income in the USA was -0.7% m/m in October after being +0.9% m/m in September. At the same time, the Personal Spending improved by 0.5% m/m after expanding by 1.4% m/m the month before and against the expected reading of +0.4% m/m. The revised report of the University of Michigan of the Consumer Sentiment showed 76.9 points in November after being 77.0 points in October.
If the White House and the FOMC do not expand the stimulus program, consumer spending will start declining in response to a possible slowdown in the economic recovery rate.
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.