The Euro is trying to stabilize. Overview for 18.10.2017

The main currency pair updated its ten days’ low and is trying to find support.

The EUR/USD pair is trading close to the levels where it opened the trading session in the morning. The current quote for the instrument is 1.1772.

Mario Draghi, the ECB President, delivered a speech today, where he emphasized that the QE program was in no way interfering with implementing reforms in the Eurozone in general and some countries in particular. Draghi didn’t mention any specific aspects of the regulator’s monetary policy. It is believed that he may tell more details during the next ECB meeting on October 26^th.

The statistics from the USA was rather weak. The Housing Starts in September was just 1130K after being 1180K in August and against the same expected number. The Building Permits was 1220K, which is less than expected, 1250K, and was the month before, 1270K.

Later in the evening, the USA will publish the Fed Beige Book. Investors; attitude is rather controversial: there are no good reasons to buy the USD, but the Euro is also doesn’t look very good right now.

RoboForex Analytical Department