EUR/USD was rising during almost every trading session in October (with a couple of exceptions) and the current trading session was not different. The main reason for the rally was doubts about the ability of the Federal Reserve to start monetary normalization in 2015. Today’s economic data from the United States added to such concerns as most of the reports were disappointing.
PPI slid 0.5% in September after showing no change in August. Forecasters had promised a smaller drop by 0.2%. (Event A on the chart.)
Retail sales rose 0.1% in September, trailing market expectations of a 0.2% increase. The August’s change was revised negatively from 0.2% to 0.0%. (Event A on the chart.)
Business inventories showed no change in August, the same as in July, while experts had predicted a small increase by 0.1%. (Event B on the chart.)
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