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EUR/USD Keeps Gains After ECB, US Data

December 12, 2019 by

EUR/USD was moving in a range following yesterday’s sharp rally and is currently trading above the opening level. The European Central Bank did not provide surprises today, keeping interest rates unchanged and the outlook for monetary policy broadly the same. (Event A on the chart.) Meanwhile, both US macroeconomic indicators released over the trading session missed expectations. Unemployment claims were especially bad.

PPI showed no change in November on a seasonally adjusted basis after rising by 0.4% in October. That was an unpleasant surprise to market participants as they were counting on an increase of 0.2%. (Event A on the chart.)

Initial jobless claims climbed to 252k last week on a seasonally adjusted basis from the previous week’s unrevised level of 203k. The actual value was far bigger than 213k predicted by analysts. (Event A on the chart.)

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

One Response to “EUR/USD Keeps Gains After ECB, US Data”

  1. zack king

    think we will expect a slow incline

    Reply

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