The euro was trading without persistent direction against the US dollar today until the poor macroeconomic report from the USA led to a strong upward wave, which turned out to be
S&P/
Richmond Fed manufacturing index surprised market participants with a rather deep plunge, going down from 14 to -8 in December — its worst reading since April 2009. Analysts had forecast a modest increase to 16. The negative index suggests deteriorating conditions in US manufacturing activity. (Event B on the chart.)
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