EUR/USD surged today on the positive economic data from Europe, but quickly lost its gains. The US economy also showed robust growth as the reports about inflation and consumer sentiment indicated. EUR/USD trades now at 1.4193, following the jump from 1.4244 to 1.4340.
US CPI rose 0.4% in April on a seasonally adjusted basis, proving forecasts correct. The growth in March was at a 0.5% rate. (Event A on the chart.)
Preliminary Michigan Sentiment Index was at 72.4 in May, posting an increase from the April revised value of 69.8. The expected value for May was 70.0. (Event B on the chart.)
If you have any comments on the recent EUR/USD action, please reply using the form below.
May 14th, 2011 at 3:16 am
The USD will gain in the coming week as the US economy showing good signs. The EUR/USD will take a reverse trend from its 1.4118 to 1.4300 before it takes a downtrend
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