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EUR/USD Climbs on Positive Economic Sentiment

November 18, 2014 by

EUR/USD climbed today, erasing yesterday’s losses, as the economic sentiment for both Germany and the whole eurozone was surprisingly positive. (Event A on the chart.) It allowed the euro to gain on the dollar even though data from the United States also beat expectations.

US PPI rose 0.2% in October while analysts have expected it to decline at the same 0.1% rate as in September. (Event B on the chart.)

Net foreign purchases were at $164.3 billion in September. The actual figure was far bigger than the forecast $41.3 billion and the previous month’s value of $52.1 billion. (Event C on the chart.)

EUR/USD for 2014-11-18

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