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EUR/USD Trades Lower Following Better-Than-Expected US PPI

November 9, 2018 by

EUR/USD fell today. Some market analysts attributed the decline to the better-than-expected US Producer Price Index print, which boosted the dollar. But the currency pair actually did not respond to the release, continuing to move largely sideways after it and falling later. The EUR/USD pair was heading to end the week lower.

PPI rose 0.6% in October, whereas specialists had expected the same 0.2% rate of growth as in September. (Event A on the chart.)

Michigan Sentiment Index slipped a bit to 98.3 in November from 98.6 in October, but it was still above the analysts’ median estimate of 98.0. (Event B on the chart.)

Wholesale inventories rose 0.4% in September, while experts had anticipated the same 0.3% increase as in August. (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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