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Old 12-02-2021, 15:51
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KostiaFM KostiaFM is offline
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Default Re: Daily Market Analysis by ForexMart

EUR/USD. February 12, 2021 – The pair consolidates at 1.2100

The EUR/USD pair continues to consolidate in the 1.2100 area. Experts note that the instrument has already strengthened enough for traders to «take a break and look around».

Yesterday was published data on the number of applications for unemployment benefits in the United States: the indicator fell to 793 thousand against the level of last week at 812 thousand, while the forecast assumed a reduction in the indicator to 755 thousand. Analysts note that although statistics on the employment sector are not uniform, there are more and more positive facts in it.

As for the eurozone, here the short-term outlook looks worse than previously thought. According to experts' expectations, the eurozone's GDP in 2021 will grow by 3.8% against earlier expectations of a rise of 4.2%. At the same time, long-term expectations have improved: next year the European economy may grow by 3.8% instead of the previous forecast of 3.0%.

Today you should pay attention to the report on December industrial production in the euro area, as well as preliminary data on the consumer confidence index in the US for February. The forecast assumes growth to 80.8 points from 79.0 points earlier.
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