Forex Blog

First-hand Forex trading experience and information about foreign exchange market that will be useful to traders

Archives

ECB Plans to Ease Policy in June, EUR/USD Sinks

May 9, 2014 by

EUR/USD extended its drop for the third consecutive session today, falling to the lowest level in a month, after European Central Bank President Mario Draghi suggested that he will likely add monetary stimulus as soon as next month. Economic data from Europe supported such outlook, being rather negative, while the US report about unemployment claims were better than expected, allowing the dollar to gain on the euro.

Wholesale inventories grew 1.1% in March, above the analysts’ projection of 0.5% and the revised February increase of 0.7%. (Event A on the chart.)

Yesterday, a report on initial jobless claims was released, showing a drop from 345k to 319k last week, which was bigger than the predicted decrease to 328k. (Not shown on the chart.)

EUR/USD-2014-05-09

If you have any comments on the recent EUR/USD action, please reply using the form below.

Leave a Reply

required
required (will not be published)