Home / Forex & Currency Exchange News / EUR/USD Trims Gains Despite Slow US Economic Growth

EUR/USD Trims Gains Despite Slow US Economic Growth

EUR/USD rallied today following the release of data that showed a surge of eurozone inflation this month. (Event A on the chart.) The currency has trimmed its gains by now despite a report showed that US economic growth slowed last quarter more than was expected.

US GDP rose 0.7% in Q1 2016 according to the advance estimate, demonstrating the slowest rate of growth in three years. That is compared to the median forecast of 1.3% and the previous quarter’s revised growth of 2.1%. (Event B on the chart.)

Chicago PMI climbed from 57.7 in March to 58.3 in April instead of falling to 56.9 as analysts had forecast. (Event C on the chart.)

Michigan Sentiment Index was at 97.0 in April according to the revised estimate, almost the same as March’s 96.9. Experts had promised a reading near the preliminary value of 98.0. (Event D 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

Large Speculators and the House of Pain

Large Speculators and the House of Pain

By The Gold Report Source: Michael J. Ballanger for Streetwise Reports   02/18/2018 Every bottom in gold is characterized by massive long liquidation by the Large Specs, precious metals analyst Michael Ballanger states. This week’s COT report once again confirms that the Large Speculators are arguably the stupidest group of gold traders in existence. To be […]

Leave a Reply

Your email address will not be published.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

css.php