EURUSD is back to the levels it reached in early February. Overview for 15.02.2018

At the beginning of another trading session, the main currency pair is moving a bit upwards; investors seem to feel like buying.

EURUSD slowed down its active growth closer to the weekend, but investors’ sentiment is still in favor of “bulls”. The current quote for the instrument is 1.2457.

Yesterday evening, the USA published many important statistical reports, which turned out to be rather mixed. The Retail Sales lost 0.3% m/m in January against the expected reading of +0.2% m/m. Considering that the indicator didn’t change in December in comparison with November, today’s number is looking really sad.

The Consumer Price Index added 0.5% m/m, which is much better than in December (+0.1% m/m) and the expected reading (+0.3% m/m). Nevertheless, the Core CPI matched expectations and expanded only by 0.3% m/m.

As a result, it was the fastest growth of the US CPI over the last 12 months. At some moment of time, this fact scared investors: it was quite logical to believe that the quick CPI growth might allow the Federal Reserve to increase the key rate faster than it was expected to. This, in its turn, might influence the US GDP growth.

However, these fears didn’t last long and in just an hour and a half EURUSD resumed moving where it was going to – towards the highs it reached in early February.

In the evening, the USA will continue reporting on its statistics, including the Producer Price Index and the Labor market. However, neither of these reports is likely to make the main currency pair fluctuate much.

RoboForex Analytical Department