On Thursday afternoon, the main currency pair is being corrected upwards after reaching the lowest levels of 2018 yesterday.
EURUSD is still being corrected on Thursday afternoon. The situation with the pair is not so impressive so far, because there is a possibility of a new decline due to some mixed statistics. The current quote for the instrument is 1.1726.
Yesterday evening, the US Federal Reserve published the FOMC Meeting Minutes report, which said that the regulator’s members thought it would make economic sense to increase the rate during the next meeting. Frankly speaking, it wasn’t a surprise: market expectations of the key rate increase in June were 100% even before the report was published.
However, the tone of the report really made investors think that there might be four increases of the rate this year instead of three. This is what provided the USD with support.
The statistics published by Germany, France, and the Euro Area in general turned out to be rather mixed and counted against the Euro. For example, the French Flash Services PMI decreased up to 54.3 points in May after being 57.4 points the month before. The same indicator for Germany also fell, from 53.0 points in April to 52.1 points this month. In the entire Euro Area, the indicator also was weaker than earlier, 53.9 points against 54.7 points. The Flash Manufacturing PMI reports this month were weaker than in April as well.
This afternoon, the European regulator is going to publish the ECB Financial Stability Review; later in the evening, the USA are scheduled to report on the HPI, the Existing Home Sales, and the Unemployment Claims. It’s likely that EURUSD may have some reasons to move more actively before today’s trading session ends.
RoboForex Analytical Department
