It looks like Forex traders do not feel that they need the safety of the US currency right now, leading to the rally of EUR/USD. Today’s economic reports from the United States were not helping as they have disappointed market participants yet again. The Federal Open Market Committee will release the minutes of its latest policy meeting tomorrow, and this may affect the dollar’s performance significantly.
NY Empire State Index sank from 12.5 in January to 4.5 in February, missing the analysts’ estimate of 9.9. (Event A on the chart.)
Net foreign purchases fell by $45.9 billion in December instead of rising by $28.9 billion as was predicted by experts. The November’s net value was at -$28.0 billion. (Event B on the chart.)
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