The euro is correcting from the maximums of the month

17.04.2021

The main currency pair is regularly correcting after the rally earlier. The current quote in EURUSD is 1.1960. Published statistics from the United States were mixed, but no less bright. Retail sales “soared” 9.8% m/m in March after falling 2.7% m/m in February. The forecast assumed an increase of 5.8% m/m. This was expected: this month the population received additional financial assistance from the government – this money immediately appeared in the economy. Additionally, weather conditions have stabilized, making consumers more mobile.

Retail sales in the United States, excluding cars, rose by 8.4% m/m in March after falling earlier by 2.5% m/m. Expectations did not rule out a 5.1% rise. The volume of industrial production in the United States in March rose by 1.4% m/m, while growth was expected by 2.7%. Let me remind you that in February the indicator “fell” by 2.2% m/m. No matter how weak these figures may seem, they are the highest in the last 8 months. After the February decline in production activity, everything is returning to normal rates. Capacity utilization rate rose to 74.4% in March from 73.8% earlier.

The weekly report on the number of claims for unemployment benefits in the United States showed a decrease in the number of applications to 576 thousand against the previous figure of 769 thousand and the forecast of a reduction to 703 thousand.

Observers have already expressed that the data on the employment market are probably not objective.