The Euro is looking down. Overview for 16.04.2020
The major currency pair is falling on Thursday afternoon; investors are switching to “safe haven” assets.
EURUSD is boosting its decline on Thursday. The current quote for the instrument is 1.0858.
The statistics published yesterday showed that the Retail Sales in the USA lost 8.7% m/m in March after decreasing by 0.4% m/m the month before and against the expected reading of -8.0% m/m. The Industrial Production dropped by 5.4% m/m after adding 0.5% in the previous month and against the expected decline by 4.1% m/m. The Capacity Utilization Rate weте from 77.0% in February to 72.7% in March.
The Manufacturing Production showed -6.3% m/m last month, which is the most significant decline since winter 1946.
It’s interesting that the motor vehicles and parts output lost 28%, the biggest slump since January 2009 while the mining and utilities dropped 2% and 3.9% respectively.
The Euro Area reported on the Industrial Production today, which lost 0.1% m/m in February, the same as expected, after adding 2.3% m/m in January.
Later in the evening, the USA is scheduled to publish the Unemployment Claims, a weekly report that has shown rather mixed numbers almost every week since mid-March. This time, the indicator is expected to be 5.35M after showing 6.606M last week. However, the current tendency is very unlikely to change dramatically, because the labor market is still experiencing a lot of problems due to the coronavirus pandemic and quarantine restrictions.