Home / Forex & Currency Exchange News / EUR/USD Surges After Trump Says That Dollar Too Strong

EUR/USD Surges After Trump Says That Dollar Too Strong

EUR/USD surged during Wednesday’s late trading after US President Donald Trump said that the dollar is too strong. Today’s economic data from the United States was not particularly impressive, giving no support to the greenback.

US import prices fell by 0.2% in March (close to the forecasts of a 0.3% drop) while export prices increased by the same rate. Import prices were up 0.4% in February (revised from 0.2%) while export prices advanced 0.3%. (Event A on the chart.)

Crude oil inventories slumped by 2.2 million barrels last week, far more than analysts had predicted (0.7%), but were near the upper limit of the average range for this time of year. The stockpiles advanced by 1.6 million the week before. Total motor gasoline inventories shrank by as much as 3.0 million barrels last week but were in the upper half of the average range. (Event B on the chart.)

Treasury budget deficit shrank from $192.0 billion in February to $176.2 billion in March, though the decrease was not as big as analysts had promised, predicting a shortage of $150.0 billion. (Event C 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

Dow Jones Tanks; Silver Market Price Bottoming

Dow Jones Tanks; Silver Market Price Bottoming

By Money Metals News Service During the last 90 minutes of trading on Wednesday, the Dow Jones Index tanked by 400 points. Supposedly, the steep selloff had something to do with the release of the Fed minutes. However, today, the market has reversed once again and is up by 200 points. Unfortunately for mainstream investors, […]

Leave a Reply

Your email address will not be published.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

css.php