EUR/USD pair experiences modest growth, future trajectory uncertain.
The primary currency pair surpassed its levels from yesterday on Wednesday, but uncertainties cloud the path forward. The current EUR/USD exchange rate is set at 1.0576.
Yesterday saw the release of two significant reports in the US.
The first report focused on retail sales, which surged by 0.7% m/m in September, exceeding both the forecast (+0.2%) and the figure from August (+0.6%). The robust performance in retail sales could potentially fuel inflation.
The second report shed light on the manufacturing sector’s condition. Industrial production expanded by 0.3% m/m in September, surpassing expectations of a 0.1% growth and the previous month’s 0.4% increase.
Both indicators underline a central concern in capital markets – the potential factors that could heighten inflationary pressures.
Today, investors will closely observe components of the real estate sector. September statistics, covering housing starts and issued building permits, are scheduled for release. Anticipated growth is significant in the former case, while a decline is projected for the latter.
The post USD Shows Weakness: Overview for October 18, 2023 appeared first at R Blog – RoboForex.