The main currency pair is trying to grow on Thursday afternoon; the market is analyzing the statistics.
The EUR/USD pair is growing, but slowly, on small volumes. The current quote for the instrument is 1.1770.
The first part of the trading session was pretty boring as far as the statistics is concerned, but the second one is more than outweighed by American reports.
So, the US GDP in the second quarter was revised to 3.1% q/q against the expected reading of 3.0% q/q. This is already the third estimation and it will be considered as final. In the first quarter 2017, the indicator added just 1.2% q/q. In the comments, they say that the positive revision of the GDP in the second quarter is coming from the good reading of the Private inventory investment, better than expected. All other key parameters haven’t changed much.
The Initial Jobless Claims increased up to 272K, although expectations were 270K. The Continuing Jobless Claims was 1,934K against the expected reading of 1,990K. One way or another, the employment market is close to its multiyear’ highs and the weekly fluctuations barely influence the EUR/USD pair.
A bit later, the USA will publish the Natural Gas Storage and the Wholesale Inventories, but the most significant data has already been published. It’s rather mixed in regards to the influence on the main currency pair, that’s why the market is definitely confused.
RoboForex Analytical Department