EUR/USD extended its yesterday’s drop as risk aversion, spurred by the FOMC statement, continues to affect the Forex market. The fundamentals today weren’t very bad, actually, as jobless claims decreased and leading indicators rose.
Initial jobless claims decreased to 423k from 432k in the week ending September 17. The actual value was near the forecast value of 419k. (Event A on the chart.)
Leading indicators increased 0.3% in August, following the 0.6% increase in July (revised from 0.5%). Forecasts promised a 0.2% increase. (Event B on the chart.)
If you have any comments on the recent EUR/USD action, please reply using the form below.
September 30th, 2011 at 10:00 pm
any body know what will hapen with the eurusd the next week? to make longs toward 1400?
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admin Reply:
October 1st, 2011 at 7:35 am
It will probably bounce upward, but I doubt it will reach 1.4000.
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