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EUR/USD Rallies Despite Political Turmoil in Spain

EUR/USD rallied today, demonstrating strength that was surprising considering that political turmoil in Spain persisted. Meanwhile, two of the three important economic reports released in the United States today were good, while the leading indicators demonstrated a surprising drop, being the only negative release.

Initial jobless claims fell from 244k to 222k last week, while forecasters had anticipated a much smaller drop to 240k. (Event A on the chart.)

Philadelphia Fed manufacturing index climbed from 23.8 in September to 27.9 in October. That was totally opposite to forecasts, which promised a drop to 21.9. (Event A on the chart.)

Leading indicators fell by 0.2% in September after rising 0.4% in August. Analysts had promised an increase by 0.1%. (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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