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EUR/USD Falls for Third Consecutive Session on Economic Data

February 6, 2019 by

EUR/USD fell today for the third day in a row after Germany released a disappointing report on factory orders. Meanwhile, US data was good, with the trade deficit decreasing more than was expected. Signs of positive developments in the Sino-US trade talks provided additional boost to the US dollar against its rivals, including the euro.

US trade balance deficit shrank to $49.3 billion in November down from the revised reading of $55.7 billion in October. The analysts’ average forecast had promised a bigger value of $54.0 billion. (Event A on the chart.)

Crude oil inventories increased by 1.3 million barrels last week, matching forecasts exactly, after increasing by 0.9 million barrels the week before. Total motor gasoline inventories rose by 0.5 million barrels. (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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