EUR/USD Resumes Decline After Surge on GDP

EUR/USD jumped today at the start of trading session on good GDP values in Eurozone countries, especially Germany, but later resumed its decline. Reports from US hadn’t brought any surprise, as forecast correctly predicted changes of macroeconomic indicators. EUR/USD is trading now near 1.2761 after jumping as high as 1.2905.
US retail sales posted an increase of 0.4% in July. The May to June 2010 percent change was revised from -0.5% to -0.3%. Traders expected slightly higher growth by 0.5%.
The Consumer Price Index (CPI) increased 0.3% in July on a seasonally adjusted basis, while in the previous month it decreased 1.3%. Forecast were near actual figure, promising an increase by 0.2%.
The University of Michigan released its preliminary consumer sentiment index for August. It rose from 67.8 (revised from 66.5) to 69.6. Forecast was also near actual figure in this case, expecting the value of 69.4.
Business inventories rose by 0.3% from May to June, just as analysts predicted, following previous increase by 0.2%.

If you have any comments on the recent EUR/USD action, please, reply using the form below.

Leave a Reply

Your email address will not be published.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