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US Retail Sales and Industrial Production Help USD vs. EUR

EUR/USD was trending strongly down today thanks to the positive macroeconomic reports from the United States. Although not all of the released data was optimistic, the main numbers were better than forecasts. The currency pair attempted to stage a correction near 14:00 GMT but failed and continued down.

Retail sales rose by 0.6% in June after going up by 0.2% in May (revised down from 0.5%). The growth exceeded the median forecast of 0.1%. (Event A on the chart.)

CPI was up by 0.2% in June, following the same 0.2% growth in May and was the equal to the median forecast. Core CPI showed the same dynamics. (Event A on the chart.)

NY Empire State Manufacturing index went down from 6.0 to 0.6 in July. Forex traders expected it to decrease only slightly — to 5.1. (Event A on the chart.)

Industrial production added 0.6% in June, surpassing the forecast of 0.2% growth. May’s -0.4% fall has been revised to -0.3%. Capacity utilization increased from 74.9% to 75.4% in the same month. It was expected to rise to 75.2%. (Event B on the chart.)

Business inventories increased by 0.2% in May. April’s growth and forecast for May were at 0.1%. (Event C on the chart.)

Michigan Sentiment index went down from 93.5 to 89.5 in its preliminary report for July. Market participants have been counting on the index to remain at its June level. (Event C on the chart.)

EUR/USD as of 2016-07-15

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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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