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EUR/USD Continues to Fall Despite Lower CPI

March 18, 2010 by

EUR/USD continued its decline today falling down to the weekly lows and then retracing back somewhat. The U.S. fundamentals remain rather weak and unsupporting for the U.S. dollar, but the markets seem to be more preoccupied with the current Eurozone’s fiscal problems. The currency pair is now trading near 1.3683.

CPI indicator remained unchanged in February, following 0.2% growth in January, while a small increase of 0.1% was forecasted for February.

Initial jobless claims were reported at 457k for the last week, which is below 462k reported a week earlier but above the 455k forecast.

Philadelphia Fed index rose from 17.6 to 18.9 in March, which is slightly more than the traders have expected (18.0).

Leading economic indicators increased by 0.1% in February after 0.3% growth in January. They were expected to rise at 0.1%. This indicator has a rather weak effect as it’s actual value is known beforehand.

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

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