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EUR/USD Again Fails to Rally

EUR/USD attempted to rally today but was unable to keep gains, similar to its performance during the previous trading session. This time, though, the reason for the decline was clearer. The currency pair dropped as US macroeconomic indicators were unexpectedly good, increasing the appeal of the US dollar to investors.

PPI rose 0.5% in April. That was a better reading than a 0.2% increase predicted by analysts, let alone the 0.1% drop registered in March. (Event A on the chart.)

Initial jobless claims slipped from 238k to 236k last week, surprising experts who were counting on an increase to 245k. (Event A 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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