EUR/USD continues to drift, as the pair is unchanged this week. Currently, the pair is trading at 1.1189, down 0.03% on the day. On the release front, there are no German or eurozone events. The U.S. releases PPI and Core PPI, both of which are expected to slow to 0.2%. Unemployment claims are forecast to drop sharply to 215 thousand, after a reading of 230 thousand in the previous release. As well, Federal Reserve Chair Jerome Powell speaks at an event in Washington. On Friday, Germany releases trade balance and the U.S. posts consumer inflation reports.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
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