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18.11.202407:46 Forex Analysis & Reviews: Hot Forecast for EUR/USD on 18.11.2024

Retail sales growth in the United States was expected to accelerate from 1.7% to 1.9%, but the actual data turned out to be much better. Specifically, the previous figures were revised upward to 2.0%, and growth accelerated to 2.8%. Additionally, the decline in industrial production slowed from -0.7% to -0.3%, not far from forecasts predicting a slowdown from -0.6% to -0.4%. Overall, the data exceeded expectations. However, the market remained stagnant and barely moved.

This is largely attributed to the dollar's extreme overbought condition, where further growth would require solid reasons. Conversely, even a hint of negativity could significantly weaken the dollar.

Today's macroeconomic calendar is completely empty, so the most likely scenario is continued stagnation.

*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.

Dean Leo,
Analytical expert of InstaSpot
© 2007-2025
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