Bidding Tuesday, October 20, marked the decline of U.S. currency to a record low against the euro. At this time a maximum of euro settled at around 1.4992, followed by a rather aggressive sales of the single currency that was not allowed to touch a pair of important and long-awaited mark 1.5.
As investor sentiment continues to dominate the optimism, which serves as the main source of corporate reporting in the United States. Nevertheless, macroeconomic statistics from the North American continent is increasingly frustrating. So, yesterday came out data on the dynamics of construction in the U.S. for September, which were quite unexpected. Construction of the decline showed up to 590 thousand from 598 thousand in the last month (forecast assumes a growth rate up to 610 thousand). The sharp decline in the index showed producer prices for the same period: -0.6% versus 1.7% (forecast assumes a reduction in the index to only 0.0%.
Trades Wednesday, 21 October, continuing the trend Tuesday. Euro /dollar traded near the level of opening and yet maintains a downward trend. It is worth noting also that the bidding take place rather quietly, due to the lack of important macroeconomic publications (an exception may be only the data on industrial orders in the UK). Today the focus of attention of players will get only the Beige Book U.S. Federal Reserve, which will be published at 22:00 Moscow time. Renewal of the market can yield statistics of Thursday, when will the information on unemployment benefits in the United States, the dynamics of retail sales in the UK and the euro area balance of payments.
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The technical analysis of currency pairs