The Euro is looking for support. Overview for 11.01.2018

The main currency pair is rather volatile this afternoon; investors are analyzing the statistics on the Industrial Production in the Eurozone.

The EUR/USD pair is quite active during Thursday’s trading session. The current quote for the instrument is 1.1948; it is falling a little bit.

In the afternoon, the Eurozone reported on the Industrial Production in November. The indicator expanded by 1.0% m/m after adding 0.4% m/m in October and against the expected reading of 0.8% m/m. The major contribution was made by the capital goods output (+3.0% m/m). it’s a good sign for the Eurozone: the output increase mans that there is a demand, and if there is a demand – population’s income is also increasing.

The Industrial Production share in the GDP is very high, that’s why the first indicator may improve the second one. The latest GDP numbers that were published (the third quarter 2017) added 0.6% q/q (+2.6% y/y). The fourth quarter readings may be even more impressive.

Later in the afternoon, the European Central Bank is going to publish the Minutes of the latest ECB Monetary Policy Meeting. Although no one is expecting anything sensational from the report, it may cause some short-term volatility.

RoboForex Analytical Department