EUR/USD dropped today as the theme of risk aversion continued to dominate the Forex market but recouped from losses by now as economic indicators from the United States were worse than market participants have counted on.
Preliminary Michigan Sentiment Index fell from 82.5 in June to 81.3 in July instead of rising to 83.5 as it was supposed to do according to analysts’ projections. (Event A on the chart.)
Leading indicators rose 0.3% in June. It was a disappointing reading compared to predicted 0.6% and May 0.7% (revised from 0.5%). (Event B on the chart)
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