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EUR/USD Soars Despite Positive US Data

July 19, 2018 by

EUR/USD was on the rise today during the New York trading session despite the fact that the US macroeconomic indicators came out pretty good this time.

Philadelphia Fed manufacturing index rose from 19.9 to 25.7 in July, coming out better than 21.6 expected by market participants. (Event A on the chart.)

Initial jobless claims declined to 207k in the week ending July 14. It was a positive surprise for USD bulls as the value was lower than the last week’s 215k and the median forecast of 220k. It also was the lowest level since December 1969. (Event A on the chart.)

Leading indicators demonstrated a growth by 0.5% in June — slightly better than 0.4% forecast by analysts and much better than no change (revised from 0.2% growth) registered in May. (Event B on the chart.)

EUR/USD as of 2018-07-19

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