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EUR/USD Recovers, Unfazed by Solid US GDP

July 27, 2018 by

EUR/USD dropped during the current trading session but has bounced by now. Even the solid gross domestic product report in the United States, which showed the fastest growth of the US economy in four years, did not prevent the rally of the currency pair.

US GDP rose 4.1% in Q2 2018. The increase was a bit smaller than 4.2% predicted by analysts but far bigger than 2.2% registered in Q1. (Event A on the chart.)

Michigan Sentiment Index fell to 97.9 in July from 98.2 in June according to the final estimate. Market participants had expected the same figure as the preliminary 97.1. (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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