Home / Forex & Currency Exchange News / EUR/USD Rallies on ECB Meeting Account and Poor US Data

EUR/USD Rallies on ECB Meeting Account and Poor US Data

The euro rallied versus the US dollar immediately after the December ECB meeting accounts have been made public (event A on the chart). The account turned out to be more hawkish compared to what the market participants had expected. The currency pair then continued to grow following the poor macroeconomic data from the USA.

Producer price index (PPI) fell by 0.1% in December instead of rising by 0.2% in accordance with the median forecast. November PPI was at 0.4%. (Event B on the chart.)

Initial jobless claims were at 260k last week — up from 250k reported a week earlier. The expectation was for the number to decline to 245k. (Event B on the chart.)

Treasury budget deficit fell from $138.5 billion to $23.2 billion in December. Traders had expected it to decrease to $34.5 billion. (Event C on the chart.)

EUR/USD as of 2018-01-11

If you have any comments on the recent EUR/USD action, please reply using the form below.

Posted on Forex blog. Click Here For Original Source Of The Article

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.

Check Also

“Oops, They Did It Again”

“Oops, They Did It Again”

See “a classic capitulation to a rising trend” By Elliott Wave International History often repeats. So, one way to make an educated guess about the future is to look at the past. With that in mind, let me share with you a valuable observation from our market analysts: Overseas investors tend to jump into U.S. […]

Leave a Reply

Your email address will not be published. Required fields are marked *