EUR/USD Recovers Somewhat on Negative US Data

EUR/USD continued to fall during the early trading session today but stalled during the European Forex trading session and reversed its direction after today’s macroeconomic data from the USA had been released. The currency pair benefited from both reports.
Initial jobless claims rose from 281k to 293k last week. This significant increase turned out to be lower than the expected growth to 296k. (Event A on the chart.)
Durable goods orders declined by 18.2% in August, following 22.5% growth reported for July. The actual number came out just a bit worse than the median forecast of a 18% drop. (Event A on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.

Leave a Reply

Your email address will not be published. Required fields are marked *