EUR/USD dropped today as hints about a tax reform made by US President Donald Trump continued to support the dollar. The currency pair managed to trim its losses before the settlement as the consumer sentiment reported by the University of Michigan turned out to be far below expectations.
Import and export prices rose in January. Import prices increased 0.4% in January, matching forecasts exactly, after rising 0.5% in December. Export priced edged up 0.1% last month following the 0.4% increase the month before. (Event A on the chart.)
Michigan Sentiment Index fell from 98.5 in January to 95.7 in February, below the medium forecast of 97.9. (Event B on the chart.)
Treasury budget turned to a surplus of $51.3 billion in January after logging a deficit of $27.3 billion in December. (Event C on the chart.)
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