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EUR/USD Retreats, Erasing Earlier Rally

April 12, 2019 by

EUR/USD rallied intraday but failed to keep gains and is now trading slightly below the opening level. The worse-than-expected US consumer sentiment did not stop the decline.

US import and export prices rose in March. Import prices rose 0.6% following the revised 1.0% increase in February (0.6% before the revision). Analysts had predicted a smaller increase by 0.4%. Export prices rose by 0.7% for the second consecutive month. (Event A on the chart.)

Michigan Sentiment Index dropped to 96.9 in April from 98.4 in March according to the preliminary reading. Analysts had predicted a much smaller decrease to 98.1. (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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