Home / Forex & Currency Exchange News / EUR/USD Drops After US Trade Balance & Factory Orders Reports

EUR/USD Drops After US Trade Balance & Factory Orders Reports

EUR/USD declined today, falling for the fifth day in six. US macroeconomic reports released during the current session were positive as the trade deficit shrank more than expected while factory orders demonstrated solid growth. The drop was limited, though, as traders were cautious ahead of the meeting between US President Donald Trump and Chinese President Xi Jinping.

US trade deficit logged a deficit of $43.6 billion in February, down from $48.2 billion in January. It was better than the median forecast of a $46.0 billion gap. (Event A on the chart.)

Factory orders rose 1.0% in February, exactly as analysts had predicted. The increase followed the 1.5% gain in January (revised, 1.2% before the revision). (Event B on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.

Posted on Forex blog. Click Here For Original Source Of The Article

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.

Check Also

Large Speculators and the House of Pain

Large Speculators and the House of Pain

By The Gold Report Source: Michael J. Ballanger for Streetwise Reports   02/18/2018 Every bottom in gold is characterized by massive long liquidation by the Large Specs, precious metals analyst Michael Ballanger states. This week’s COT report once again confirms that the Large Speculators are arguably the stupidest group of gold traders in existence. To be […]

Leave a Reply

Your email address will not be published. Required fields are marked *