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EUR/USD Falls Despite US PPI Missing Forecasts

August 9, 2018 by

EUR/USD declined today even as US producer inflation missed expectations. Consumer inflation data will be released tomorrow, and if it fails to meet expectations as well, that would bode ill for the US currency.

PPI showed no change in July, whereas experts had predicted an increase by 0.2%. The index rose 0.3% in June. (Event A on the chart.)

Initial jobless claims were at 213k last week, down from the previous week’s slightly revised level of 219k. Analysts had expected the indicator to stay little changed. (Event A on the chart.)

Wholesale inventories rose 0.1% in June, while specialists had predicted them to stay unchanged, the same as in the previous month. (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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