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Dollar Still Feels Weight of FOMC Minutes

The US dollar continued to feel pressure from yesterday’s FOMC policy minutes today, falling against other major currencies. Thus, EUR/USD continued to move higher. While the rally of the currency pair was very limited yesterday, it is rather strong today. Positive economic indicators released from the United States on Thursday failed to support the greenback.

Philadelphia Fed manufacturing index rose from -2.9 to 2.0 in August, exceeding the analysts’ median forecast of 1.4. (Event A on the chart.)

Initial jobless claims fell from 266k to 262k last week instead of rising to 269k as experts had predicted. (Event A on the chart.)

Leading indicators edged up 0.4% in July while specialists had expected the same 0.3% rate of growth as in June. (Event B on the chart.)

EUR/USD as of 2016-08-18

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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