Today’s economic reports from the United States followed the same pattern: economists were expecting no change from the previous readings, but the actual data made a negative surprise. As one could expect, this forced the dollar to fall against the euro, making EUR/USD reverse yesterday’s drop.
Retail sales declined 0.4% in January. It was an unpleasant surprise to those traders who have expected no change (0.0% value). Moreover, the December change was revised from +0.2% to -0.1%. (Event A on the chart.)
Initial jobless claims increased from 331k to 339k, seasonally adjusted, while specialists have thought they would stay at the same level. (Event A on the chart.)
Business inventories grew by 0.5% in December, while experts predicted growth by the same 0.4% rate as in November. (Event B on the chart.)
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