EUR/USD Rises After Two Days of Losses

EUR/USD rose today after two days of losses. Mood on the Forex market is cautiously optimistic today, reducing need for the dollar as a safe haven. The sentiment may easily change as the eurozone shows signs of an economic downturn. The United States, on the other hand, recover as was shown by today’s set of really good results.
PPI rose 0.4% in February. It’s somewhat below the predicted increase by 0.5%, but above the January reading of 0.1%. (Event A on the chart.)
Initial jobless claims fell from 365k to 351k last week, more than analysts predicted (357k). (Event A on the chart.)
NY Empire State Index went up from 19.5 in February to 20.2 in March. That was a pleasant surprise to market participants who expected a decline to 17.6. (Event A on the chart.)
Net foreign purchases rose to $101.0 billion in January, compared to $19.1 billion in the month before. The actual figure is much bigger than the forecast $38.9 billion. (Event B on the chart.)
Philadelphia Fed manufacturing index was at 12.5 in March. That’s compared to the forecast of 11.9 and the February figure of 10.2. (Event C on the chart.)

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