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Fundamental Analysis
June 152017
EUR/USD Drops on US Data, Fed Interest Rate Hike
EUR/USD dropped today following yesterday’s interest rate hike from the Federal Reserve. Today’s economic reports released in the United States were mixed, but those that were good were sufficient to drive the dollar higher. Initial jobless claims slipped from 245k to 237k last week. That is compared to the forecast value of 241k. (Event A on the chart.) NY Empire State Index surged from -1.0 to 19.8 in June — […]
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June 142017
EUR/USD Halts Rally After FOMC Interest Rate Hike
EUR/USD rallied today as data about inflation and retail sales came out unexpectedly bad. The Federal Open Market Committee raised the main interest rate and predicted one more hike in 2017, staying in line with the previous forecasts. Considering that many market participants were expecting FOMC to revise the projected dot path down, the announcement looked very bullish to the dollar. The EUR/USD currency pair halted the rally after the news, […]
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June 132017
EUR/USD Little Changed Ahead of FOMC Meeting
EUR/USD was little changed today as traders were lying in wait ahead of tomorrow’s policy announcement from the Federal Open Market Committee. The first two trading days of the week were light on economic data. This will change tomorrow as several important reports will be released, including the Consumer Price Index and retail sales data. PPI showed no change in May, exactly as analysts predicted. The index was up […]
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June 92017
EUR/USD Maintains Decline on Friday After Thursday’s Testimony of James Comey
EUR/USD dropped today, extending yesterday’s decline. The currency pair fell on Thursday after the long-awaited testimony of former FBI chief James Comey to the Senate did not bring any significant revelations, causing the US dollar to gain on other currencies. Yesterday’s policy announcement from the European Central Bank also caused a drop of the euro versus the dollar. As for economic data from the United States, the previous and the current trading sessions was very […]
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June 72017
EUR/USD Attempts to Bounce After Drop on ECB Rumor
EUR/USD dropped today due to the rumor that the European Central Bank will lower its inflation forecast at the next policy meeting. The ECB will meet tomorrow, and markets were hoping for a hawkish policy statement after the gathering. Yet if the rumor proves true, the central bank will likely maintain its dovish stance. The currency has bounced by now and is attempting to reverse the decline on the back of the disappointing US consumer credit […]
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June 52017
EUR/USD Drops Even as US Services Sector Fails to Meet Expectations
EUR/USD dropped today even as growth of the US services sector slowed, and other economic indicators were also unimpressive. Traders focus on the policy decision of the European Central Bank scheduled for June 8. No changes to the existing policy are expected, but market participants count on a more hawkish statement from the ECB. Nonfarm productivity showed no change in the first quarter of 2017 while experts had predicted the same 0.6% drop […]
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June 22017
Nonfarm Payrolls Miss Expectations, Reviving EUR/USD
EUR/USD was moving gradually down today but jumped sharply after the release of nonfarm payrolls. Market participants were expecting a robust growth of US employment, but the reality turned out to be rather different. The actual figure was not disastrous, but it was far below expectations. The trade balance report was not good either, adding to the reasons for the dollar to go down versus the euro. Nonfarm payrolls […]
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June 12017
US Employment Shows Strong Growth, EUR/USD Falls
EUR/USD was falling today and the decline accelerated after US employment showed a very robust growth. Other reports from the United States were either neutral (manufacturing) or bad (jobless claims and construction spending), but it looks like markets focused singularly on the employment data. Hawkish comments from John Williams, President of the San Francisco Federal Reserve Bank, were also driving the currency pair down. ADP employment […]
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May 312017
EUR/USD Pays No Heed to Slowing Eurozone Inflation
EUR/USD rallied today even though the report released during the trading session showed that eurozone inflation slowed, missing analysts’ expectations. (Event A on the chart.) Experts explained the euro’s good performance by expectations of discussion about stimulus exit at the next week’s policy meeting of the European Central Bank. Additionally, US macroeconomic data released over the current session was disappointing, helping the euro to solidify its gains versus the dollar. Chicago […]
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May 302017
EUR/USD Bounces Off Day’s Lows Despite Unfavorable Data
EUR/USD rebounded today after falling intraday even though eurozone macroeconomic data was less than impressive. US economic reports, on the other hand, were decent, with the exception of the consumer sentiment that worsened unexpectedly. One of the possible reasons for the rally of the currency pair were speculations that the European Central Bank may discuss removal of monetary stimulus at the June policy meeting. Both personal income and spending rose 0.4% […]
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