EUR/USD Finds Equilibrium: Overview for November 16, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSD_23-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="EUR/USD analysis today" decoding="async" style="margin-bottom: 15px;" loading="lazy" /></div><p>The <a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR/USD</a> pair is undergoing a correction after a recent surge.</p>

<p>The primary <a href="https://blog.roboforex.com/blog/2020/06/19/how-to-choose-a-currency-pair-for-trading-in-forex/" data-internallinksmanager029f6b8e52c="142" title="Currency Pair">currency pair</a> is adjusting its position on Thursday, with the EUR/USD exchange rate currently at 1.0832.</p>

<p>Industrial production in the eurozone for September showed a 1.1% month-on-month decrease, slightly weaker than anticipated (-0.9%). The previous month had witnessed a 0.6% rise. The logical inference is that the production sector, like other segments, is grappling with challenges posed by high prices in the region.</p>

<p>In the US, a significant set of statistics was presented yesterday. Notably, retail sales in October declined by 0.1% month-on-month, falling short of the anticipated 0.3% decrease and trailing the previous month's growth of 0.9%. The Producer Price Index for October came in at 1.3% year-on-year, below the forecasted 1.9% year-on-year.</p>

<p>The decline in the <a href="https://blog.roboforex.com/blog/2021/09/24/what-is-ppi-and-how-to-use-it/" data-internallinksmanager029f6b8e52c="202" title="PPI">PPI</a> wasn't unexpected, given the robust inflation report seen yesterday, setting the tone for subsequent price publications. Other facets of <a href="https://blog.roboforex.com/blog/2022/06/30/what-is-inflation-reasons-and-consequences/" data-internallinksmanager029f6b8e52c="220" title="Inflation">inflation</a> releases may also signal a downturn. These trends are consequences of the US Fed's tight monetary policy and the restrained <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a> level.</p>

<p>An event of note in the Eurozone today is a speech by ECB governor Christine Lagarde. Meanwhile, the US is set to release an industrial production report and its components, along with the weekly unemployment claims report.</p>

<p>The dollar, having weathered initial stress, is now seeking stabilization.</p>

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