The main currency pair is slowly reacting to the statistics; investors are very cautious.
The EUR/USD pair is barely moving on Thursday afternoon. The current quote for the instrument is 1.1840.
This afternoon, investors’ attention was focused on the reports from Europe. The Inflation Rate in the Eurozone, according to preliminary estimations increased up to 1.5% y/y in November after being 1.4% y/y in October and against the expected reading of 1.6% y/y. So, today’s number was expected to encourage optimism, but it didn’t.
The components of the report show that the major contribution to the indicator growth was made by the energy and food, alcohol, and tobacco. The Core Inflation Rate was 0.9% y/y in November, although it was expected to raise up to 1.0% y/y.
These are preliminary inflation reports, but as a rule, such readings aren’t revised too much.
Another report, which describes the labor market, indicated that the Unemployment Rate fell from 8.9% in September to 8.8% in October. The labor market continues improving, but very slowly. The region’s population still depends salaries significantly.
Later in the evening, the USA will publish several important reports, which may increase volatility in major currency pairs.
RoboForex Analytical Department