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EUR/USD Declines Through the Session, Bounces on US Releases

July 30, 2020 by

The US dollar strengthened versus the euro during the most part of the trading session today, but it looks like it has switched to a downtrend following the announcement of some important fundamental indicators in the United States.

Initial jobless claims increased slightly from 1,422k to 1,434k last week, which is just a bit below the median forecast of 1,440k. (Event A on the chart.)

US GDP decreased by 32.9% in the second quarter of 2020 according to the first (advance) estimate. It was a little better than a drop by 34.5% expected by the traders but significantly worse than a 5% decline reported for the first quarter of the year.. (Event A on the chart.)

EUR/USD as of 2020-07-30

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