Economic reports from the United States were positive this week, but they did not prevent EUR/USD from rising at both the current and the previous trading sessions. The currency pair erased its previous gains and should close near its weekly opening if it stays at the current level.
Retail sales increased 0.6% in August from July. Analysts predicted an increase at the same rate as the July’s 0.3% (revised from 0.0%). (Event A on the chart.)
Both import and export prices fell in August. Import prices decreased 0.9% in August, in line with expectations, following the 0.3% decline in July. Export prices declined 0.5% in August after ticking up 0.1% in the previous month. (Event A on the chart.)
Michigan Sentiment Index rose from 82.5 in August to 84.6 in September, exceeding the median analysts’ forecast of 83.2. (Event B on the chart.)
Business inventories grew 0.4% in July, at the same rate as in June. The growth was somewhat slower than the predicted 0.5%. (Event B on the chart.)
Yesterday, a report on unemployment claims was released, showing an increase from 304k to 315k last week. The actual increase was above the forecast 306k. (Not shown on the chart.)
Also yesterday, a report on the treasury budget was released, showing a deficit of $128.7 billion in August. It was above the previous month’s deficit of $94.6 billion but below the predicted $132.8 billion. (Not shown on the chart.)
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