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EUR/USD Declines As US-China Trade Conflict Escalates

August 2, 2018 by

EUR/USD declined on the reports that the trade war between the United States and China continued to escalate as the USA considered additional tariffs on Chinese imports. As for US macroeconomic reports, there were just two of them today, and both were within expectations.

Initial jobless claims were at the seasonally adjusted rate of 218k last week, just marginally above the previous week’s level of 217k. That is compared to the median forecast of 220k. (Event A on the chart.)

Factory orders rose 0.7% in June, matching expectations exactly, after increasing 0.4% in May. (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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