EURUSD is trying to keep its positive momentum and remain "in the black". The major currency pair is slowly growing on Friday. The current quote for the instrument is 1.1014. The statistics published yesterday by the US showed that the country’s labour market is eventually recovering. The Initial Jobless Claims was 187K after being 215K the week before and against the expected reading of 210K.
The labour market stability is the aspect the US Fed considers when making monetary decisions. Inflation is just a trigger and “irritatory agent”.
The Durable Goods Orders in the US lost 2.2% m/m in February after adding 1.6% m/m in the previous month and against the expected reading of -0.5% m/m. The indicator is extremely volatile, that’s why it’s important to look at its components. The Core Durable Goods Orders dropped 0.6% m/m after adding 0.8% m/m in January.
It means that consumers are not really interested in big purchases and remain rathe neutral to everything else. Probably, it’s a temporary reaction.
As for other data, it’s quite good. The preliminary Markit Manufacturing PMI in March showed 58.5 points after being 57.3 points the month before. The Services PMI went from 56.5 points to 58.9 points. Later in the evening, investors should check the Michigan Consumer Sentiment report for March. The higher the reading, the better for the “greenback”.
