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EUR/USD Bearish After Excellent Economic Data

December 13, 2007 (Last updated on December 3, 2009) by

EUR/USD began the day with some slow downtrend, but continued to accelerate its bearish tendencies after news releases from U.S. showed some well above average macroeconomic stats.

Advance retail sales report for November from U.S. Census Bureau showed that this indicator increased by 1.2% compared with October — much better than 0.6%, which was expected by the market analysts.

The Producer Price Index (PPI) in November rose by surprising 3.2%, compared with 0.1% in October and 1.5% expected growth.

Initial jobless claims for the week ending December 8 were also released today — 333k against 340k (revised up from 338k) last week and below the 335k, as the economists were expecting.

Manufacturing and trade business inventories in October increased by 0.1% — less than expected value of 0.3% growth rate.

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