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EUR/USD Mixed amid Risk Aversion, Mixed US Data

February 27, 2019 by

EUR/USD fell today amid risk aversion caused by geopolitical tension. US data released today was mixed as factory orders showed almost no growth but pending home sales rose more than was expected.

Factory orders rose just 0.1% in December versus 1.5% predicted by analysts. It was not enough to offset the drop by 0.5% registered in the previous month. (Event A on the chart.)

Pending home sales climbed 4.6% in January after falling 2.3% in December. Analysts had predicted a much smaller increase by 0.7%. (Event A on the chart.)

US crude oil inventories dropped by 8.6 million barrels last week, whereas experts had predicted an increase by 2.8 million barrels. The stockpiles increased by 3.7 million barrels the week before. Total motor gasoline inventories decreased by 1.9 million barrels. Both indicators were above the five-year average for this time of year. (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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