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EUR/USD Falls After BoE Meeting, Bounces Later

EUR/USD was falling today and accelerated its decline after the Bank of England had announced a massive stimulus package. (Event A on the chart.) Yet the currency pair has reversed its movement later and is now trading not far from the opening level.

Initial jobless claims rose a bit from 266k to 269k last week. Analysts had anticipated them to stay little changed at 265k. (Event B on the chart.)

Factory orders contracted 1.5% in June after falling 1.2% in May (revised from 1.0%). The drop was not as big as the 1.8% decline predicted by experts. (Event C on the chart.)

EUR/USD as of 2016-08-04

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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