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EUR/USD Fails to Rally Again

EUR/USD fell today, making it a ninth session of losses in a row, after an unsuccessful attempt to rally earlier. While economic data from the United States was mixed, markets preferred to focus on the good parts.

Both housing starts and building permits rose in October. Housing starts were at the seasonally adjusted annual rate of 1.32 million, compared to the predicted 1.16 million and the previous month’s reading of 1.05 million. Building permits were at the seasonally adjusted annual rate of 1.23 million, the same as in September, versus the forecast 1.19 million. (Event A on the chart.)

CPI rose 0.4% in October, exactly as analysts had forecast, after rising 0.3% in September. (Event A on the chart.)

Philadelphia Fed manufacturing index fell from 9.7 in October to 7.6 in November, below the predicted figure of 8.1. (Event A on the chart.)

Initial jobless claims dropped from 254k to 235k last week instead of rising to 257k as analysts had predicted. (Event A on the chart.)

EUR/USD as of 2016-11-17

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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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