EUR/USD Accelerates Decline After ECB Minutes

EUR/USD, which was holding ground yesterday, was falling today and accelerated its decline after the European Central Bank released minutes of its March policy meeting. (Event A on the chart.) The notes showed that policy makers were discussing repercussions of potential trade wars with the United States and voiced concerns about the strong currency. The current trading session was light on economic data from the United States, which had a limited impact on markets.

Initial jobless claims were at the seasonally adjusted rate of 233k last week. That is compared to the average forecast of 231k and the last week’s value of 242k. (Event B on the chart.)

Import prices showed no change in March following the 0.3% rise in February, whereas analysts had expected a 0.2% increase. Export prices rose 0.3% after increasing 0.2% in the previous month. (Event B on the chart.)

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