The main currency pair barely responds to statistical reports from the Eurozone in the afternoon and seems to be saving strengths before evening statistics.
EURUSD tried to fall on Wednesday afternoon, but investors are waiting for the American statistics to be published in the evening, so that they could decide on their short-term plans. The current quote for the instrument is 1.2342.
So, the preliminary GDP report from the Euro Area didn’t surprise anybody. The economy of the region expanded by 0.6% q/q in the fourth quarter 2017, just as expected. Even if taken separately, countries provided quite expected readings. The German GDP added the same 0.6% q/q, which is less that than the quarter before. In Italy, the indicator increased by 0.3% q/q against the expected reading of +0.4% q/q.
At the same time, the Industrial Production report was awful. The indicator lost 0.4% m/m in December after adding 1.3% m/m in the previous month. Investors expected it to be worse than before, but not this bad.
Later in the evening, the main currency pair may experience some volatility. The USA are scheduled to report on the Retail Sales and the Consumer Price Index, which may fall short of expectations.
RoboForex Analytical Department