The major currency pair is falling a bit on Thursday after rising the day before. EURUSD is slightly retreating on Thursday after adding some weight in the middle of the week. The current quote for the instrument is 1.1360. The Retail Sales in the US added 3.8% m/m in January after losing 2.5% m/m in the previous month and against the expected growth of 2.1% m/m. The Core Retail Sales added 3.3% m/m against the expected reading of 1.0% m/m.
The Industrial Production in the US expanded by 1.4% m/m in January after reducing by 0.1% m/m in December and against the expected reading of 0.4% m/m. The Capacity Utilization Rate went from 76.6% to 77.6% over the same period of time. On one hand, this data might as well be a correction of the weak December reports. On the other hand, the data might have improved due to the increased demand and consumption. That’s good news.
The US Fed released its FOMC Meeting Minutes. As a rule, market players look through the document to find any hints at the regulator’s future moves. However, what they are interested in right now is details. The document said that the majority of the policymakers believed that the Fed should continue to reduce the monthly pace of net asset purchases, bringing them to an end in early March. Still, if inflation does not move down as expected, it will be appropriate to tight monetary policy at a faster pace.
