Home / Forex & Currency Exchange News / EUR/USD Rallies to New High

EUR/USD Rallies to New High

EUR/USD rallied to a new high today, reaching the strongest level since January 2015. Basically all economic reports released in the eurozone during the current trading session were good, reinforcing the view that the European Central Bank will be more hawkish going forward. Meanwhile, data released in the United States was mixed, adding to doubts that the Federal Reserve will continue aggressive monetary tightening.

Chicago PMI dropped from 65.7 in June to 58.9 in July, below the consensus forecast of 60.8 and reaching the lowest level in three months. (Event A on the chart.)

Pending home sales climbed 1.5% in June, exceeding the analysts’ median estimate of 0.9%. The index dropped 0.7% in the previous month. (Event B on the chart.)

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

FX Speculators raise US Dollar bearish bets for 2nd week, Euro bets at record high

FX Speculators raise US Dollar bearish bets for 2nd week, Euro bets at record high

By CountingPips.com – Get our weekly COT Reports by Email US Dollar net speculator positions fell to $-23.42 billion this week The latest data for the weekly Commitment of Traders (COT) report, released by the Commodity Futures Trading Commission (CFTC) on Friday, showed that large traders and currency speculators increased their aggregate bearish bets for […]

Leave a Reply

Your email address will not be published.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