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EUR/USD Jumps After US Retail Sales Drop Most in 9 Years

February 14, 2019 by

EUR/USD jumped sharply after US retail sales demonstrated the biggest decline in more than 9 years. While the currency pair has backed off from the daily highs by now, it is still trading firmly above the opening level. Earlier, the EUR/USD advanced after eurozone GDP came out in line with expectations. (Event A on the chart.)

PPI fell 0.1% in January after declining 0.2% in December. That frustrated analysts, who had predicted an increase of 0.1%. (Event B on the chart.)

Seasonally adjusted retail sales slumped 1.2% in December from the previous month, whereas experts had promised the indicator to increase at the same 0.1% rate as in November. (Event B on the chart.)

Seasonally adjusted initial jobless claims rose to 239k last week from the previous week’s revised level of 235k instead of falling to 225k as analysts had predicted. (Event B on the chart.)

Business inventories slipped by 0.1% in November from October. That is compared to an increase of 0.3% forecast by specialists and the 0.6% gain registered the month before. (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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