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EUR/USD Rallies Despite Positive US Data

December 5, 2019 by

EUR/USD rallied today despite reports released in the United States today were all positive. Market analysts speculated that yesterday’s negative data was still weighing on the dollar.

Trade balance deficit shrank to $47.2 billion in October down from $51.1 billion in September, revised ($52.5 billion before the revision). Analysts had predicted a big bigger deficit of $48.7 billion. (Event A on the chart.)

Initial jobless claims fell to 203k last week from the previous week’s unrevised level of 213k instead of rising to 215k as analysts had predicted. (Event A on the chart.)

Factory orders rose 0.3% in October, matching forecasts. The September reading got a negative revision from a drop of 0.6% to 0.8%. (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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