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EUR/USD Retreats After US Government Reopens

February 9, 2018 by

EUR/USD erased its earlier gains today after US politicians approved a deal that allowed the US government to open after a brief shutdown. Thursday and Friday were light on economic data from the United States, therefore it had limited impact on moves of the currency pair.

Wholesale sales adjusted for seasonal variations were up 0.4% in December after rising 0.8% in November. Analysts had predicted a smaller increase by 0.2%. (Event A on the chart.)

Yesterday, a report on initial jobless claims was released, showing a drop from 230k to 221k last week instead of an increase to 232k predicted by experts. (Not shown on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.

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