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EUR/USD Rises with German Economic Sentiment

EUR/USD rose today following the release of the better-than-expected report about the German economic sentiment and continued to rise after the bigger-than-expected drop of the US manufacturing index. The currency pair was down before that as the dollar got boost from the reopening of the US government.

Richmond Fed manufacturing index fell from 20 to 14 in January. That was a bigger drop than the one predicted by analysts, who had expected just a minor decrease to 19. (Event A on the chart.)

On Friday, a preliminary report on Michigan Sentiment index was released, showing a drop from 95.9 in December to 94.4 in January. Experts had anticipated an increase to 97.0. (Not shown 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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