EUR/USD rose today as basically all US macroeconomic indicators released during the Thursday’s session were worse than expected. But currently, the currency pair trades far below the session maximum.
Philadelphia Fed manufacturing index dropped from 10.4 in November to 0.3 in December, far below the forecast level of 8.1. It was the lowest reading in six months. (Event A on the chart.)
Current account balance deficit was at $124.1 billion in Q3 2019, narrowing a bit from the revised deficit of $125.2 billion registered in Q2 ($128.2 billion before the revision). The actual value was close to analysts’ forecasts of a $122 billion deficit. (Event A on the chart.)
Initial jobless claims were at the seasonally adjusted level of 234k last week, down from the previous week’s unrevised level of 252k. Despite the drop, the actual figure was above the average forecast of 225k. (Event A on the chart.)
Leading indicators showed no change in November, whereas analysts had predicted a small increase of 0.1%. Furthermore, the October reading got a negative revision from a decline of 0.1% to 0.2% — the same as in September. (Event B on the chart.)
Existing home sales were at a seasonally adjusted annual rate of 5.35 million in November, while experts had predicted them to stay at the October rate of 5.44 million. (Event B on the chart.)
Yesterday, a report on crude oil inventories was released, showing a drop of 1.1 million barrels last week, which was a bit smaller than analysts had predicted — 1.5 million barrels. The stockpiles increased by 0.8 million barrels the week before. At the same time, total motor gasoline inventories increased by 2.5 million barrels. (Not shown on the chart.)
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