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EUR/USD Halts Post-Brexit Rally

EUR/USD halted its post-Brexit rebound today. US economic data was mixed. Jobless claims rose, though they were in line with market expectations, while the Chicago PMI climbed much more than was predicted by experts.

Initial jobless claims rose to the seasonally adjusted level of 268k last week, in line with analysts’ expectations of 267k, from the previous week’s revised rate of 258k. (Event A on the chart.)

Chicago PMI rose to 56.8 in June from 49.3 in May. Specialists had anticipated just a modest increase to 50.6. (Event B on the chart.)

EUR/USD as of 2016-06-30

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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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