Today, EUR/USD attempted to resume its rally after halting it yesterday. The currency pair got support from the disappointing durable goods orders report yet it still has problems with maintaining the rally.
US durable goods orders dropped 1.4% in February contrary to the analysts’ predictions that promised a small increase by 0.3%. The previously reported increase in January was revised negatively from 2.8% to 2.0%. (Event A on the chart.)
Crude oil inventories increased by 8.2 million barrels last week following the 9.6 billion gain the week before. The actual increase exceeded the forecast value of 5.0 billion. Total motor gasoline inventories decreased by 2.0 million barrels, but remained well above the upper limit of the average range. (Event B on the chart.)
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