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EUR/USD Bounces Between US News Releases

September 20, 2012 by

A major part of today’s EUR/USD appeared during the late Asian and early European Forex trading sessions. The US news releases made the currency pair jump a bit before pushing it into a purely sideways movement.

Initial jobless claims were reported at 382k last week, following 385k claims (revised from 382k) in a previous week. The median forecast was a decline to 375k. This release helped to push EUR/USD down today. (Event A on the chart.)

Leading indicators declined as expected in August — by 0.1%. Meanwhile, the July change was revised from 0.4% growth to 0.5% growth. (Event B on the chart.)

Philadelphia Fed business activity index rose from -7.1 to -1.9 in September. It is better than the majority of market analysts expected (-4.5) but is still negative, meaning that the activity is declining. (Event B on the chart.)

EUR/USD as of 2012-09-20

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

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