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EUR/USD Fails to Rally amid Escalating Trade Tensions

EUR/USD attempted to rally today but failed amid signs of escalating trade tensions between the United States and China. The start of the week was light in terms of macroeconomic data in the USA, but that should change later with the PPI on Wednesday, the CPI on Thursday, and retail sales on Friday.

Wholesale inventories rose by 0.6% in July. Experts were anticipating the same 0.7% rate of growth as in June. (Event A on the chart.)

Yesterday, a report on consumer credit was released, showing an increase of $16.6 billion in July, which was above the average forecast of $14.5 billion. The June increase got a negative revision from $10.2 billion to $8.5 billion. (Not shown on the chart.)

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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