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EUR/USD Backs Off from Highest Level Since October

April 7, 2016 (Last updated on April 8, 2016) by

EUR/USD fell during the Thursday’s trading session after reaching the highest level since October intraday. US macroeconomic data may have played a part in the bounce as it was rather good. Friday is going to be light on economic reports with only wholesale sales being released. At the same time, several members of the Federal Reserve will be speaking, including Chairwoman Janet Yellen.

Initial jobless claims fell from 276k to 267k last week, below the market expectations of 271k. (Event A on the chart.)

Consumer credit rose by $17.3 billion in February while analysts had expected the rate of growth to stay about the same as the February’s revised value of $14.8 billion ($10.5 billion before the revision). (Event B on the chart.)

EUR/USD as of 2016-04-07

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

One Response to “EUR/USD Backs Off from Highest Level Since October”

  1. Richard

    Overall decelerating as ECB continues QE operations.

    Reply

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