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EUR/USD Drops After ECB Minutes, US Economic Data

October 5, 2017 by Vladimir Vyun

EUR/USD dropped today as basically all economic reports released in the United States over the trading session were good. The European Central Bank released minutes of its latest policy meeting today, showing that some policy makers argued in favor of maintaining monetary stimulus. (Event A on the chart.) That was also negative to the currency pair.

Initial jobless claims fell from 272k to 260k last week, below the average forecast of 266k. (Event B on the chart.)

Trade balance deficit shrank to $42.4 billion in August, down from $43.6 billion in July, close to market expectations of a $42.7 billion gap. (Event B on the chart.)

Factory orders rose 1.2% in August after falling 3.3% in July. The actual increase was somewhat bigger than the predicted growth by 1.0%. (Event C on the chart.)

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

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