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EUR/USD Gains on Eurozone Manufacturing

EUR/USD traded higher today as manufacturing reports released in the eurozone over the trading session were very good for the most part. The gains were not big, though, and the currency pair pulled back after US jobless claims fell unexpectedly. Now, markets wait for an announcement of a new Federal Reserve chief and unveiling of a tax bill.

Initial jobless claims dropped from 234k to 229k last week even though forecasts had promised them to stay basically unchanged. (Event A on the chart.)

Nonfarm productivity increased by 3.0% in the Q3 2017. That is compared to 2.5% predicted by analysts. The previous quarter’s increase was revised from 0.9% to 1.5%. (Event A on the chart.)

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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