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EUR/USD Rallies After ECB Policy Announcement

EUR/USD rallied today following the policy announcement from the European Central Bank (event A on the chart) and the press-conference of ECB President Mario Draghi (event B on the chart). It looked like European policy makers were less willing to ease their already extremely accommodative monetary policy further, and that gave boost to the euro. As for today’s data from the United States, it showed no surprises, being close to forecasts.

Initial jobless claims climbed from 223k to 243k last week versus 239k predicted by analysts. (Event B on the chart.)

Import and export prices rose in February. Import prices increased 0.2%, close to analysts’ predictions of 0.1% gain. The previous month’s increase was revised from 0.4% to 0.6%. Export prices edged up 0.3% after rising 0.2% in January. (Event B 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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