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EUR/USD Falls on Eurozone Macroeconomic Data

January 31, 2019 by

EUR/USD fell today, likely dragged down by mixed macroeconomic data released in the eurozone during the Thursday’s trading session. US economic reports were mixed as well, but that did not prevent the dollar from gaining on the euro.

Initial jobless claims jumped from 200k to 253k last week. Market participants were completely unprepared for such a big jump, expecting just a relatively small increase to 215k.

Chicago PMI dropped to 56.7 in January from December’s downwardly revised reading of 63.8, below the 61.5 level predicted by analysts.

New home sales were at the seasonally adjusted annual rate of 657k in November, up from 562k in October (revised, 544k before the revision). Experts had predicted a much smaller increase to just 569k.

Net foreign purchases were at $37.6 billion in November. That is compared to the average forecast of $30.3 billion and the October reading of $31.9 billion.

If you have any comments on the recent EUR/USD action, please reply using the form below.

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