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15.09.2020
At 15:15 (GMT+2), the US data on changes in the level of industrial production for August will be released. The indicator reflects the volume of production at plants and factories. The value is expected to increase by 0.8% MoM. A high value may indicate inflation expectations and, therefore, an imminent rate hike, so a high score strengthens the US dollar, while a low value weakens it.
On the 4-hour chart, the lateral trend remains. The instrument is consolidating at the upper line of Bollinger Bands; the indicator cloud is expanding, an uptrend is likely to form in the short term. MACD histogram is near the zero level, its volumes are minimal; the signal line is directed horizontally without forming a clear signal to enter the market. Stochastic is in the neutral zone, demonstrating lateral movement.
At 11:00 (GMT+2), EU Q2 data, reflecting the short-term change in the average cost of a working hour will be released. An increase in the indicator may indicate an increase in prices for goods and services in the future.
Since the beginning of the week, the main American stock index Dow Jones has been showing significant volatility and reaches 28110.0.
The pair continues to be in a global downtrend, but is strengthening locally on the backdrop of positive statistics, trading at 1.2870.
The USD/CHF pair is in a global downtrend and is trading at 0.9060.
Silver is showing moderate gains during today's Asian trading session, trading near the local highs of last Thursday.
The EUR/USD pair corrects upwards due to positive EU macroeconomic data and is trading around 1.1895.
EUR is strengthening against USD during today's Asian trading session, developing an uptrend in the short term, the signals for which began to form on September 9. USD is again under pressure from a moderate growth in optimistic sentiment at the market. In particular, traders are responding positively to reports of notable progress in the development of a coronavirus vaccine. Last weekend, Pfizer announced its intention to complete the third phase of clinical trials by the end of October, which will allow the vaccine to begin distribution by the end of the year. Macroeconomic statistics from the eurozone released on Monday also provided moderate support to EUR. Industrial Production in the euro area in July rose by 4.1% MoM, which was 0.1% better than market expectations. In annual terms, the indicator fell by 7.7% YoY after decreasing by 12% YoY in the previous month. Market forecasts suggested a decline of 8.2% YoY.
Oil prices show flat trading dynamics, trading near the level of $37 per barrel.