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EUR/USD Attempts to Rebound, Retreats After Favorable US Data

June 12, 2020 by

EUR/USD attempted to rebound today but failed and declined following the release of better-than-expected US macroeconomic data.

Import and export prices rose in May. Import prices rose by 1.0%, exceeding the median forecast of a 0.6% increase, led by higher fuel prices. Import prices were down 2.6% in April. Export prices increased by 0.5% following a 3.3% drop in the previous month. (Event A on the chart.)

Michigan Sentiment Index rose to 78.9 in June from 72.3 in May according to the preliminary estimate. Analysts were expecting a smaller increase to 75.0. (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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