EUR/USD continued to rise for the fourth consecutive session today. The market sentiment improved after the US Senate approved a $2 trillion stimulus package. Meanwhile, US macroeconomic data continued to provide positive surprises, with durable goods orders rising instead of falling.
Durable goods orders rose by 1.2% in February instead of dropping by 1.0% as analysts had predicted. The previous month’s reading got a positive revision from a drop of 0.2% to an increase of 0.1%. (Event A on the chart.)
US crude oil inventories rose by 1.6 million barrels last week versus the expected increase of 2.9 million barrels. The stockpiles remained below the
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