EUR/USD is now finishing its third correction-after-gain 2-day pattern on the chart as the U.S. job data inspired bearish speculations for the stock markets’ correction. The currency pair is now trading near 1.4983 after setting its new yearly record at 1.5045.
Initial jobless claims increased from 520k to 531k last week, while the average forecast was near 515k for this basic unemployment indicator.
Leading indicators index went up by 1.0% in September after 0.4% gain in August. It was expected to increase by 0.8%. Unfortunately, this indicator isn’t very influent for the currency markets.
Yesterday, the U.S. commercial crude oil inventories report showed an increase by 1.3 million barrels during the week ending October 16. Total motor gasoline inventories decreased by 2.3 million barrels; they are now near the upper limit of the average range (down from above the limit).
If you have any comments on the recent EUR/USD action, please, reply using the form below.
