EURUSD remains strong in anticipation of the US statistics. The major currency pair is trying to keep its positive momentum. The current quote for the instrument is 1.1604. The rally in the US 10-year bond yield slowed down amid growing inflation concerns and this actor counted against the “greenback”, which remains rather weak before the weekend. So far, there hasn’t been anything new that might have evened this negative factor.
The weekly Unemployment Claims report was quite good: it showed 293K after being 329K the week before and against the expected reading of 315K. A possible reason for this is that companies start hiring seasonal labour force in anticipation of holidays and sales season.
Later today, investors’ attention will switch to the US Retail Sales report for September, which is expected to show -0.2% m/m after being 0.7% m/m in August. The Core Retail Sales may add 0.5% m/m after expanding by 1.8% m/m the month before. The stronger the readings, the more support the USD will get – it will mean that consumers continue spending money and the American economy is ready for stimulus reduction.
