EUR/USD was little changed today as traders were lying in wait ahead of tomorrow’s policy announcement from the Federal Open Market Committee. The first two trading days of the week were light on economic data. This will change tomorrow as several important reports will be released, including the Consumer Price Index and retail sales data.
PPI showed no change in May, exactly as analysts predicted. The index was up 0.5% in April. (Event A on the chart.)
Yesterday, a report on treasury budget was released, showing a deficit of $88.4 billion in May, close to the forecast level of $87.3 billion. In April, the budget had a surplus of $182.4 billion. (Not shown on the chart.)
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