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EUR/USD Flat, Largely Ignoring Economic Data

February 14, 2020 by

EUR/USD was flat today, having a limited reaction to economic data. While the currency pair rose after the release of US retail sales and fell following the release of the sentiment index, overall there was no clear trend today.

Retail sales rose 0.3% in January, matching expectations. The December increase got a negative revision from 0.3% to 0.2%. (Event A on the chart.)

Import prices were unchanged in January after rising 0.2% in December, whereas analysts had predicted a 0.2% decline. Export prices advanced 0.7% in January following a 0.2% drop in the previous month. (Event A on the chart.)

Both industrial production and capacity utilization fell in January. Industrial production decreased 0.3%, compared with the expected drop of 0.2% and the December decline of 0.4% (revised, 0.3% before the revision). Capacity utilization fell from 77.1% to 76.8%, in line with forecasts. (Event B on the chart.)

Michigan Sentiment Index climbed to 100.9 in February from 99.8 in January according to the preliminary estimate. Analysts had predicted a drop to 99.5 instead. (Event C on the chart.)

Business inventories increased by 0.1% in December, matching the consensus forecast exactly. The indicator fell by 0.2% in the preceding month. (Event C on the chart.)

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

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