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EUR/USD Continues to Move Higher After FOMC-Inspired Rally

January 30, 2020 by

EUR/USD continued to move higher today following yesterday’s rebound caused by the monetary policy announcement from the Federal Open Market Committee. While the FOMC did not change interest rates, markets considered its statement to be dovish, and that caused the dollar to retreat. Both of today’s US economic reports came out within expectations.

US GDP rose 2.1% in Q4 2014 according to the advance estimate, at the same rate as in Q3 and matching forecasts. (Event A on the chart.)

Initial jobless claims were at a seasonally adjusted level of 216k last week, in line with expectations, down from the previous week’s revised level of 223k (a big negative revision from 211k). (Event A on the chart.)

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

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