The major currency pair is “under zero gravity”; market players are waiting for news.
EURUSD investors are obviously very cautious – they want to hear some news first and act after. The current quote for the instrument is 1.1600.
Yesterday’s statistics from the US were good for the USD. For example, the New Home Sales showed 800K in September after being 702K in August and against the expected reading of 755K. The indicator continues rising and that’s quite good.
The Conference Board Consumer Confidence reached 113.8 points in October after being 109.8 points the month before and against market expectations of 108.4 points. The components of the report show that the Current Conditions went from 143.4 points to 147.4 points. It’s quite interesting that the short-term inflation expectations reached their 13-year high.
The European currency got its positive impulse today but failed to take advantage of it. The German GfK Consumer Climate showed 0.9 points in November after being 0.4 points in the previous month. The German statistics have been rather mixed recently, that’s why this positive report could help the Euro to recover a little bit. However, EURUSD investors probably want to wait for the news from America and the ECB meeting results.
Later today, market players should pay attention to the Durable Goods Orders report for September, which is expected to decline relative to the August reading. However, the busiest day will be Thursday, which will bring us the ECB meeting and the US GDP report.
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.