EURUSD took another break. Overview for 28.10.2021

28.10.2021

EURUSD is saving strengths in anticipation of the ECB meeting and the US statistics. 

The major currency pair is barely moving on Thursday – investors are in no hurry to risk while waiting for some important data. The current quote for the instrument is 1.1600.

The statistics published yesterday showed that the Durable Goods Orders lost 0.4% m/m in September after adding 1.3% m/m the month before and against the expected reading of -1.1% m/m. The Core Durable Goods Orders added 0.4% m/m, the same as expected.

The components of the report show that orders for non-defense capital goods excluding aircraft rose by 0.8% m/m, above forecasts of 0.5% m/m.

The report is pretty volatile, as usual, so “the devil's in the details”. The fact that the August data was mostly revised downwards doesn’t make things better.  

Today is a very important day for the major currency pair. First of all, the European Central Bank is scheduled to have another meeting, which is expected to be more “hawkish”. If the ECB does sound this way, the Euro will get more support. Secondly, the US Q3 GDP report. There is an opinion on the market, that the US economy may expand less than in the previous quarter. Again, the better the reading, the happier the “greenback” enthusiasts will be. The evening is promising to be very volatile.

Attention!

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.