Market Analysis

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October 19, 2020 12:04 pm

EUR/USD. October 19, 2020 – Euro started to grow steadily

At the start of the new trading week, the euro started to rise after falling to 1.1685. The current quote for the EUR/USD pair is 1.1765. US data released last Friday surprised markets somewhat, with retail sales up 1.9% m/m in September, compared to a 0.7% rise forecast.

At the same time, the statistics on industrial production did not please – the indicator fell by 0.6% m/m after growing earlier by 0.4%. Experts predicted a growth of 0.6%. Moreover, the capacity utilization rate has decreased: it dipped to 71.5% from 72.0% earlier. The decline in industrial production may be a signal that producers expect a decrease in demand.

Today, the dollar was under pressure from Nancy Pelosi's statement that an agreement on US fiscal stimuli could be concluded any day before the presidential election. Moreover, it became known that the government of Boris Johnson is ready to reconsider the controversial issues and will try to break the deadlock in negotiations with the EU.

Today we should pay attention to quite a lot of speeches by representatives of the Central Banks.

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