Fundamental Analysis – Page 2

October 24
2019

EUR/USD Retreats After Rallying Intraday

EUR/USD attempted to rally intraday after the release of a worse-than-expected report on US durable goods orders but retreated very quickly afterwards. The currency pair did not respond to the better-than-expected manufacturing print. Durable goods orders dropped by 1.1% in September, more than analysts had predicted — 0.5%. The indicator rose 0.3% the month before. (Event A on the chart.) Initial jobless claims were at a seasonally adjusted level of 212k last week, down […]

October 22
2019

EUR/USD Falls as Brexit Deadline Nears

EUR/USD declined today. Market analysts blamed the uncertainty surrounding the Brexit for the drop. It is still unclear whether the United Kingdom will face a hard Brexit after October 31 or the separation from the European Union will be postponed yet again. US macroeconomic data released today was mixed, giving the currency pair no additional help in finding a direction. The housing market weakened more than was expected, […]

October 17
2019

EUR/USD Extends Gains on Disappointing US Data

EUR/USD continued to rise today as the majority of macroeconomic reports released in the United States over the trading session were disappointing, missing expectations. Philadelphia Fed manufacturing index dropped from 12.0 to 5.6 in October, below the forecast level of 7.3. (Event A on the chart.) Housing starts and building permits decreased in September. Housing starts were at a seasonally adjusted annual rate of 1.26 million in September, down from 1.39 million in August. Building permits […]

October 16
2019

EUR/USD Rallies After Disappointing US Retail Sales

EUR/USD rallied today after US retail sales fell unexpectedly last month, driving the US dollar down. Meanwhile, a positive inflation print boosted the euro. Retail sales fell 0.3% in September instead of rising at the same rate as analysts had predicted. The August increase got a positive revision from 0.4% to 0.6%. (Event A on the chart.) Business inventories demonstrated no change in August, whereas analysts were expecting the same 0.3% […]

October 11
2019

EUR/USD Gains on Trade Deal Optimism, Retains Gains After Positive US Data

EUR/USD rallied today amid rumors that the United States and China are close to getting a deal, at least a small temporary one. Renewed hopes for a Brexit deal between the United Kingdom and the European Union added to the traders’ optimism. While the currency pair has halted its upward movement by now, it retained its gains despite surprisingly good macroeconomic reports in the United States. Import prices rose by 0.2% in September versus […]

October 10
2019

EUR/USD Surges Intraday, Trims Gains Despite US CPI Miss

EUR/USD surged as of 6:45 GMT today, though it is hard to pinpoint the exact reason for the rally. One of the prevailing theories is that uncertainty surrounding the upcoming US-China trade talks was weighing on the dollar. The unexpected stagnation of US inflation should have hurt the greenback too, but the EUR/USD failed to profit from the disappointing data. While the pair attempted to rise after the release, it has given up its gains […]

October 9
2019

EUR/USD Rises as US-China Trade War Escalates, Trims Gains Later

EUR/USD rallied today as the United States blacklisted several Chinese companies just a day before the resumption of trade talks between the USA and China. The Federal Open Market Committee released minutes of its latest policy meeting, but they did not have a particularly noticeable impact on the currency pair. Wholesale inventories rose 0.2% in August, while market participants were counting on the same 0.4% increase as in July. (Event A on the chart.) US […]

October 8
2019

EUR/USD Struggles to Resume Rebound

EUR/USD was attempting to resume its bounce after yesterday’s decline. While the currency pair was rising till 10:15 GMT, it has reversed its movement afterward. The attempt to bounce after the disappointing US macroeconomic data was short-lived and the EUR/USD pair continued to move lower, though it is still trading above the opening level currently. PPI fell 0.3% in September, while market participants were expecting […]

October 4
2019

EUR/USD Swings Back & Forth After US NFP

EUR/USD was extremely volatile after the release of US nonfarm payrolls, swinging back and forth. Currently, the currency pair trades slightly above the opening level even though the report was rather poor for the most part. Nonfarm payrolls rose by 136k in September, missing the consensus forecast of 146k. The August increase got a positive revision from 130k to 168k. Unemployment rate declined from 3.7% to 3.5% unexpectedly. Average hourly earnings […]

October 3
2019

EUR/USD Rises amid Fears of Slowing US Economic Growth

EUR/USD extended its rally today as fears of potentially slowing economic growth in the United States hit the US dollar. Today’s data fueled such concerns as the report from the Institute for Supply Management showed that expansion of the services industry slowed last month more than was expected. Initial jobless claims were at a seasonally adjusted level of 219k last week, while market participants were expecting them to stay at the previous […]