The euro is slowly growing

The Euro

On Thursday, the main currency pair is reacting to the flow of statistics, but investors are hesitant. The euro is moderately growing, and the current price is the main currency pair is 1.0895. The US has already managed to release some pretty interesting statistics. A weekly report on the number of claims for unemployment benefits showed an increase to 284 thousand against the forecast of 275 thousand. It is possible that there are serious post-Christmas and seasonal adjustments. The second interesting release is regarding the indicators of US imports. Statistics showed that the import prices in December fell by 1.2% m/m (-8.2% y/y) compared with an expected drop of 1.4% m/m. The index weakened for the sixth month in a row monthly and seventeenth - annualized. The main lever of pressure on import prices is commodity fluctuations. Due to the severe market volatility in the oil sector and the rapid drop in prices for oil, all related raw goods and products are falling. Additional burden on imported goods come from a strong US dollar. For several days, a lot of activity in the euro/dollar rate is observed during the Asian and US sessions, while in the afternoon, in the European session, the pair is quite calm. This indicates the polarity of the risks carried by traders: in China they are desperately struggling with the slowing of their economy, and in the US they trying to maintain confidence in their system.

Forex Trading | News Daily Update |  Analysis Department.