No Stop for Decline of EUR/USD

EUR/USD declined for yet another trading session today ahead of tomorrow’s nonfarm payrolls. Today’s employment data was positive as jobless claims dropped, albeit not as much as was expected.
Initial jobless claims were at the seasonally adjusted rate of 294k last week. The value was above the predicted 291k but below the previous week’s 298k. (Event A on the chart.)
Consumer credit rose $14.0 billion in November, trailing the forecast increase of $15.1 billion and the previous month’s growth of $16.0 billion (revised up from $13.2 billion). (Event B 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Your email address will not be published.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 *