EUR/USD Extends Decline After Downgrade of Growth Forecasts

EUR/USD extended its decline for the fourth consecutive session today after the European Commission downgraded its growth forecasts. Poor macroeconomic data from the eurozone also weighed on the currency pair.
Initial jobless claims fell from 253k to 234k last week. That is compared to the average forecast of 220k. (Event A on the chart.)
Consumer credit rose by $16.5 billion in December, matching market expectations, after increasing $22.4 billion in November. (Event B on the chart.)

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