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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.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

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