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The economic calendar for today is almost empty. Nevertheless, the market clearly needs an explanation for a local correction considering the already oversold dollar. This could be the construction data in the United States. Hence, the number of construction projects will increase from 1,155,000 to 1,175,000. The number of construction permits issued may drop from 1,223,000 to 1,220,000. The total balance will increase by 17,000. It is also important that growth should occur at the expense of the actual beginning of construction, and not the issuance of permits, works may begin in the near future. Thus, the dollar may strengthen somewhat against the background of such news.
The euro-dollar currency pair shows increasing volatility, fluctuating within the psychological level of 1.2000. A temporary fixation of the price above the level can be expected, within the range of 1.2030. Another return of the "bear" with a move towards 1.1950 is also anticipated.
The pound-dollar currency pair managed to go into the long-awaited correction, as its value declined to 1.3470. It is possible to assume that after a slight pullback of the "bears" again, it will return to the market and moved towards 1.3470 / 1.3440.
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