Day: January 24, 2019

January 24
2019

Euro Hits Weekly Lows on Weak PMIs, Rallies on Draghi Speech, Later Declines

The euro today fell to new weekly lows in the early European session following the release of weak PMI prints from across the eurozone by IHS Markit. The single currency later rebounded following the announcement of the European Central Bank’s monetary policy decision and a balanced speech by the ECB Governor. The EUR/USD currency pair today fell from an opening high of 1.1392 to a low of 1.1305 before rebounding shortly thereafter. The currency pair today headed lower […]

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January 24
2019

US Dollar Flat As Market Weighs Influx of Data

The US dollar is trading sideways on Thursday as investors comb through the recent data. The greenback has been trading at multi-week highs in recent trading sessions, looking to maintain the momentum from 2018 when it advanced about 5% on the year. According to the Department of Labor, the number of US workers applying for unemployment benefits through state programs slipped by 13,000 to 199,000 in the week ending January 19. The last time this figure fell […]

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January 24
2019

EUR/USD Dragged Down by Dovish Draghi

EUR/USD dropped today. The decline was largely a result of dovish comments from European Central Bank President Mario Draghi, though poor PMIs for the eurozone hurt the currency pair as well. (Event A on the chart.) Meanwhile, US reports were decent, with the unemployment and manufacturing reports being especially positive. Initial jobless claims fell to 199k last week from the previous week’s slightly revised level of 212k. It was the lowest […]

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