Day: August 13, 2014

EUR/USD Reacts Violently to US Retail Sales

EUR/USD unexpectedly soared by more than 50 points following the release of the retail sales data in the United States. The reaction was generally justified, considering the disastrous numbers but still a bit overdone. The currency pair has corrected following its rally, paring some of the gains. Retail sales did not grow in July at all. They were expected to rise by 0.2%, following the same growth rate in June. (Event A on the chart.) Business […]