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Yesterday's British statistics is badly spoiled, which pulled along a single European currency. Indeed, amid the slowed GDP growth from 1.6% to 1.3%. The decline in investment also increased from -1.9% to -3.7%. If you can, of course, you can get it. Industrial production slowed down from -1.3% to -0.9%, but it should be noted that they were slowing down to -0.4%. Also, the trade deficit amounted to 12.1 billion pounds against 12.4 billion pounds in the previous month. However, it predicted a deficit of 12.0 billion pounds. Hence, even though there was a certain positive trend is visible.
Today, macroeconomic statistics are extremely poor and only data on open vacancies in the United States of America are worthy of attention, whereas the number may increase from 6,888 thousand to 6,960 thousand. However, the JOLTS data practically do not have any impact on the market. Fortunately, Mark Carney and Jerome Powell will perform today. Therefore, they will determine the mood of investors. From the head of the Bank of England, it is not worth waiting for something new. He will continue to talk about the risks and unpredictability of the consequences of Brexit and yesterday's British statistics will be perceived as proof of his words. Therefore in the morning, the pound will be under pressure but the single European currency will wait for the speech of the head of the Federal Reserve System. Jerome Powell is expected to have more specifics about the regulator's plans for the current year and given that inflation data is coming out this week, which should show its slowdown, it becomes clear that the head of the Fed will be extremely careful in his statements. It is possible that he will again make a reservation about the possibility of monetary policy easing, which will become the trigger mechanism triggering the long-awaited correction on the dollar.
The euro/dollar currency pair reached an important range of 1.1270/1.1300, where it slowed down. It is likely that there will be temporary instability in this level and in case of a fixation higher than 1.1310, we can assume a correction.
The pound/dollar currency pair continues its downward movement, focusing currently near the value of 1.2850. It is likely that the downward move will still be sustained but a pivot point is possible with a subsequent correction already near the range level of 1.2800.
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