EURUSD remains under pressure. Overview for 28.01.2020

The major currency pair continues falling; nothing has changed on the market.

Investors are still selling EURUSD because the market situation hasn’t changed – they continue running from risks. The current quote for the instrument is 1.1018.

However, market players sell the pair not as a result of panic, because the situation with EURUSD is rather steady and stable. They continue to escape risks due to the outbreak of the Chinese coronavirus, which makes the American currency more attractive. 

The economic calendar is reviving today. In the evening, the USA are scheduled to report on the Durable Goods Orders, which is expected to add 1.2% m/m in December after losing 2.1% m/m in November. The indicator is very volatile, so it will be interesting to take a closer look at its components, such as the Core Durable Goods Orders, which may show +0.4% m/m after being -0.1% m/m in the previous month. If market expectations match actual readings, it will be quite good. 

A bit later, the USA is going to publish the Conference Board Consumer Confidence for January, which is anticipated to go from 126.5 points in December to 128.2 points in January. This should be an excellent support for “greenback”.