EUR Gains on USD as Europe Wants to Spur Growth

EUR/USD gained today on signs that European leaders are going to find new ways to boost economic growth of the eurozone. Previously, the euro was falling against the dollar as the positive data from the United States bolstered the greenback.
Retail sales rose 0.1% in April. The increase was small, but still it was better than the predicted drop of 0.3%. The March change was at -0.5%. (Event A on the chart.)
Business inventories were unchanged in March as well as in February. Analysts have expected an increase by 0.3%. (Event B on the chart.)
On Friday, a report on treasury budget was released, showing the surplus of $112.9 billion in April, compared to the forecast of $108.3 billion. The budget had the deficit of $106.5 billion in March.


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Your email address will not be published.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 *

− 2 = four