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EUR/USD Recovers on Outlook for Additional Rate Cuts from Fed

March 5, 2020 by

EUR/USD recovered today following yesterday’s drop as markets were pricing in additional interest rate cuts from the Federal Reserve. US economic reports did not show a clear trend today, demonstrating varying results.

Nonfarm productivity rose by 1.2% in Q4 2019. Analysts were expecting the same 1.4% rate of increase as in the previous three months. (Event A on the chart.)

Initial jobless claims were at a seasonally adjusted level of 216k last week, matching analysts’ forecasts, down from the previous week’s unrevised level of 219k. (Event A on the chart.)

Factory orders fell by 0.5% in January. That is compared with the forecast decrease of 0.2%. The orders rose by 1.9% in the preceding month. (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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