EUR/USD extended its rally for the second session today as data from Europe was positive yet again. German industrial production expanded as much as 2.4% in June, compared to the forecast of 0.3% (event A on the chart). At the same time, the US data was not as good as was expected.
Crude oil inventories decreased by 1.3 million barrels last week, matching forecasts. Total motor gasoline inventories increased by 0.1 million barrels. (Event B on the chart.)
Consumer credit rose by $13.8 billion in June from May, when it grew by $17.5 billion (revised from $19.6 billion), trailing the forecast that promised an increase by $15.3 billion. (Event C on the chart.)
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