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EUR/USD Crashes After Economic Releases on Thursday

August 30, 2018 by

EUR/USD was rising at the start of the Thursday’s trading session but crashed following the release of European macroeconomic data and accelerated its decline following US economic releases. It is hard to explain the crash considering that the vast majority of macroeconomic indicators, both European and US, were within expectations.

Both personal income and spending rose in July. Income increased 0.3%, decelerating somewhat from June’s 0.4% rate of growth. Spending rose 0.4%, the same as in June. Core PCE inflation accelerated to 0.2% from June’s 0.1%. All the indicators matched expectations. (Event A on the chart.)

Initial jobless claims rose from 210k to 213k, seasonally adjusted, close to the average forecast of 214k. (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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