EUR/USD Bounces After Six Sessions of Losses

EUR/USD rose today for the first time in seven trading sessions. Today’s data from the eurozone was good while US economic indicators came out worse than expectations. The growth outlook from the International Monetary Fund added fuel to the rally as the IMF revised its growth projections for the United States down and for the euro-area up.
PPI rose 0.2% in March, a bit less than forecasters predicted — 0.3%. The index dropped 0.5% in the previous month. (Event A on the chart.)
Retail sales increased 0.9% in March from February, missing the median forecast of 1.1%. The previous month’s reading was revised positively from -0.6% to -0.5%. (Event A on the chart.)
Business inventories expanded 0.3% in February, exceeding market expectations of 0.2% growth. The indicator showed no change in January. (Event B on the chart.)


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