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EUR/USD Extends Drop as US Stock Market Rebounds, Economic Data Beats Expectations

March 13, 2020 by

EUR/USD declined today as the US stock market rebounded and economic data beat expectations, supporting the dollar versus the euro.

Import and export prices declined in February. Import prices fell 0.5% versus the expected decline of 1.0%. The indicator was up 0.1% in January. Export prices decreased by 1.1% after increasing by 0.6% in the previous month. (Event A on the chart.)

Michigan Sentiment Index dropped to 95.9 in March from 101.0 in February according to the preliminary estimate. The actual figure was slightly above the forecast value of 95.0. (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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