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Dollar Bulls Continue to Suffer After Fed Announcement

June 19, 2014 by

EUR/USD extended its rally today as the dollar continued to experience weakness after the Federal Reserve suggested that there will be no interest rate hike in the near future. The currency pair paused its rally but remains far above the opening level.

Initial jobless claims were at the seasonally adjusted level of 312k last week, somewhat below the predicted level of 316k and the previous week’s 318k. (Event A on the chart.)

Philadelphia Fed manufacturing index rose from 15.4 in May to 17.8 in June instead of falling to 14.3 as was predicted by analysts. (Event B on the chart.)

Leading indicators increased 0.5% in May. The reading was a bit lower than the predicted growth by 0.6% but higher than April’s 0.3%. (Event B on the chart.)

EUR/USD for 2014-06-19

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