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16.02.201812:02 Forex Analysis & Reviews: The dollar was unlucky again

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Data on producer prices unexpectedly turned out to be quite good, as their growth rates accelerated from 2.6% to 2.7%. However, the dollar did not help. Strongly disappointed with data on applications for benefits. Not only that the number of initial applications increased from 223, 000 to 230,000 , so the number of continuing applications increased from 1,927,000 to 1,942,000. But the growth rate of industrial production accelerated from 3.4% to 3.7%. But concerns about the overheating of the labor market prevailed, which did not allow the dollar to strengthen.

Today there are data on retail sales in the UK, the growth rate of which should increase from 1.4% to 2.6%, which is a clear positive factor against the background of slowing inflation. At the same time, in the U.S., it is forecasted an increase in the number of construction project starts from 1,192,000 to 1,234, 000, while a reduction in the number of issued construction permits from 1,302, 000 to 1,300, 000. Given the strong oversold dollar, it is expected to strengthen against the backdrop of growth number of construction sites.

The euro/dollar pair has all opportunities to decline to 1.2450.

Exchange Rates 16.02.2018 analysis

Стоит ожидать снижения пары фунт/доллар до 1,4075.

Exchange Rates 16.02.2018 analysis

Mark Bom
Analytical expert of InstaForex
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