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EUR/USD Pushes Higher

EUR/USD continued to rally as the post-NFP rally of the dollar was fading. Absence of important macroeconomic data from the United States was not helpful to the greenback either. Saying that, Friday is going to be reach on reports from the USA with most noteworthy being the PPI, retail sales, and the consumer sentiment.

Crude oil inventories increased by 1.1 million barrels last week after rising 1.4 million the week before while analysts had predicted a drop by 1.3 million. At the same time, total motor gasoline inventories dropped by 2.8 million barrels. (Event A on the chart.)

Treasury budget posted a deficit of $112.8 billion in July after logging a surplus of $6.3 billion in June. That is compared to the predicted shortage of $119.0 billion. (Event B on the chart.)

EUR/USD as of 2016-08-10

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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