EUR/USD was rising during the early trading session today and went even farther following some positive US releases on unemployment and prices. The currency pair retreated slightly before the US budget deficit report, but regained momentum after it was released.
Initial jobless claims fell more than expected — to 300k during the week ending April 5. Previous reading was revised from 326k to 332k. (Event A on the chart.)
The US import and export prices rose by 0.6% and 0.8% in March, respectively. This increase in import prices followed 0.9% growth in February and is better than 0.2% forecast value. Export prices rose by 0.7% in February (revised from 0.6%). (Event A on the chart.)
Treasury budget deficit went down from $106.5 billion in March 2013 to $36.9 billion in March 2014. The forecast deficit was a bit smaller at $36.0 billion. (Event B on the chart.)
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