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EUR/USD Accelerates Decline After ECB Minutes

EUR/USD, which was holding ground yesterday, was falling today and accelerated its decline after the European Central Bank released minutes of its March policy meeting. (Event A on the chart.) The notes showed that policy makers were discussing repercussions of potential trade wars with the United States and voiced concerns about the strong currency. The current trading session was light on economic data from the United States, which had a limited impact on markets.

Initial jobless claims were at the seasonally adjusted rate of 233k last week. That is compared to the average forecast of 231k and the last week’s value of 242k. (Event B on the chart.)

Import prices showed no change in March following the 0.3% rise in February, whereas analysts had expected a 0.2% increase. Export prices rose 0.3% after increasing 0.2% in the previous month. (Event B 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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