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EUR/USD Declines Without Much Regard for Fundamentals

The US dollar is strengthening against the euro for the most part of the day today, without paying attention to reports released in the eurozone or the United States. The general market sentiment is skewed into risk-aversion as traders and investors remain worried about the Brexit.

Housing starts rose from the seasonally adjusted annual rate of 1.135 million units to 1.189 million units in June. A growth to 1.165 million was expected. Building permits increased from 1.136 million units to 1.153 million during the same period — a bit higher than 1.150 million forecast. (Event A on the chart.)

Yesterday, a report on the net foreign purchases of the US long-term securities has shown a positive flow of $41.1 billion for May — above the median forecast value of $31.6 billion. April’s net sale was revised from $78.1 billion to $67.4 billion. (Not shown on the chart.)

EUR/USD as of 2016-07-19

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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