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EUR/USD Rises on US Data, Political Concerns

EUR/USD edged up today after US jobless claims rose more than was expected. The greenback moved lower versus the euro also because traders were concerned that US tax cut bill from the Senate due to release today will be different from the one proposed by the House of Representatives.

Initial jobless claims climbed from 229k to 239k last week, exceeding the median forecast of 232k. (Event A on the chart.)

Wholesale inventories rose 0.3% in September from August, matching analysts’ expectations exactly. The August increase was revised slightly from 0.9% to 0.8%. (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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EUR/USD dropped today as almost all reports released in the United States over the trading session were good. The signs that the voting for the final version of the US tax reform bill may happen as soon as the next week also drove the currency pair down.

Retail sales rose 0.8% in November, exceeding the median …

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