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Dollar Gains on Euro as Impact of FBI’s Clinton Probe Fades

The dollar ended the week on a negative note as the FBI reopened investigation regarding Hillary Clinton’s emails. Yet market participants digested the news over the weekend and came to conclusion that it will not materially impact Clinton’s chances for victory in the presidential elections. As a result, EUR/USD was moving lower basically throughout the whole trading session. US macroeconomic data did not influence moves of the currency pair much, though currently it is attempting to stage a bounce.

Personal income rose 0.3% in September after increasing 0.2% in August. Personal spending demonstrated an increase by 0.5% last month that followed the drop by 0.1% in the preceding month (revised, no change was registered before the revision). Core PCE inflation was at 0.1% in September after logging 0.2% in August. All indicators matched analysts’ forecasts exactly. (Event A on the chart.)

Chicago PMI dropped to 50.6 in October from 54.2 in September while experts had expected almost no change. (Event B on the chart.)

EUR/USD as of 2016-10-31

If you have any comments on the recent EUR/USD action, please reply using the form below.

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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