EUR/USD rallied today as basically all the data from the United States was disappointing. Earlier, the currency pair was moving down as economic news from Europe was not good either.
Initial jobless claims were at the seasonally adjusted rate of 295k last week, almost unchanged from the previous week’s rate of 294k, while analysts predicted a drop to 288k. (Event A on the chart.)
Flash Markit manufacturing PMI fell to 54.2 in April from 55.7 in March even though experts promised the index to stay virtually unchanged. (Event B on the chart.)
New home sales were at a seasonally adjusted annual rate of 481k in March, nowhere near the forecast value of 514k far below the revised February’s level of 543k. (Event C on the chart.)
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