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EUR/USD at New Highs After ECB Stays Put

January 25, 2018 by

EUR/USD continued to rise today after the European Central Bank left its monetary policy unchanged and ECB President Mario Draghi voiced confidence in economic growth and inflation. (Event A on the chart.) Meanwhile, economic data released in the United States was mixed but mostly positive.

Seasonally adjusted initial jobless claims rose from 216k to 233k last week but were still below the forecast level of 239k. (Event A on the chart.)

New home sales were at the seasonally adjusted rate of 625k in December, far below the forecast value of 679k. Furthermore, the November rate was revised down from 733k to 689k. (Event B on the chart.)

Leading indicators rose 0.6% in December, while analysts had expected the same 0.5% rate of increase as in November. (Event B on the chart.)

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

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