EUR/USD Slightly Down after a Series of U.S. Macroeconomic Releases

EUR/USD went down slightly today after several important macroeconomic reports were released in the United States. With the indicator values being more negative for the dollar, the decline of the EUR/USD currency pair was more probably caused by the growth of the risk-aversion among the Forex traders.
Consumer price index remained unchanged in September after declining by 0.1% in August. It was expected to grow by 0.1% last month.
Initial jobless claims were at 461k last week — down from 477k a week before and below the expected 470k, which suggests that the employment market is slowly recovering from the crisis.
Net foreign purchases of the long-term securities were at $14 billion in August up from the extremely low $8.6 billion value reported for July. But they are still significantly below the average monthly level.
U.S. industrial production got a massive hit from the hurricanes and the crisis and dropped by 2.8% in September after losing 1% in August. The average forecast for September’s value was -0.8%. Capacity utilization also declined significantly in September — from 78.7% to 76.4%; analytics expected a decline only to 77.9%.
Philadelphia Fed index post an outstanding decline from 3.8 in September to -37.5 in October. This decline surpassed the pessimistic forecasts of a drop to -9.8.

Leave a Reply

Your email address will not be published.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

− 1 = seven