FX.co ★ Dollar shows signs of life

Yesterday, the dollar was able to strengthen its position despite the fact that the unemployment rate in Europe fell from 8.8% to 8.7% and the number of open vacancies in the US fell from 5,996 thousand to 5,879 thousand. The gradual decline of unemployment in Europe has been going on for a long time and everyone is used to it. Investors also did not pay attention to the reduction in the number of open vacancies due to the fact that the labor market in the United States is already in excellent condition. So, the dollar strengthened for the reason that it was time to do it, especially against the backdrop of the December increase in the Fed's refinancing rate.

Today, only the data on industrial production in the UK are worthy of attention. It is expected that the growth rate of industrial production will slow from 3.6% to 1.8%. However, yesterday's growth in the dollar was not supported by significant macroeconomic data. It turned out to be somewhat overbought. Thus, the euro has a chance to regain its position but the pound, against the background of weak data on the industry, will have to stay at its current levels.

The EUR/USD pair will rise to 1.1975.

The GBP/USD pair will remain at around 1.3525.