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EUR/USD Rallies, Retreats Later amid Confusing News

December 13, 2019 by

EUR/USD was volatile today, rising at the start of Friday’s trading, moving sideways for the most of trading session, but losing almost all of its gains by now. The currency pair got a boost on the convincing victory of the Conservative Party in the UK election that should pave way for orderly Brexit. There were also reports about a phase-one deal between the United States and China, though US President Donald Trump denied that recently.

Retail sales rose by 0.2% in November on the seasonally adjusted basis, trailing the median forecast of a 0.5% increase. The October increase got a positive revision from 0.3% to 0.4%. (Event A on the chart.)

Both import and export prices rose by 0.2% in November, matching forecasts. Import and export prices fell by 0.5% and 0.1% respectively in October. (Event A on the chart.)

Business inventories rose by 0.2% in October from September, also matching forecasts. The September reading got a revision from no change to a decline of 0.1%. (Event B on the chart.)

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