Forex Blog

First-hand Forex trading experience and information about foreign exchange market that will be useful to traders

Archives

EUR/USD Drops as China Spurs Risk Aversion

April 15, 2013 (Last updated on April 16, 2013) by

EUR/USD dropped today, but currently is attempting to rebound. China released its GDP report, showing than economic growth in the Asian nation was slower than anticipated by market participants. Such disappointment hurt the market sentiment. (Event A on the chart.) The US data did not help the matter as it also frustrated economists.

NY Empire State Index slid from 9.2 in March to 3.1 in April. The actual drop was bigger than the forecast 7.2. Reading above 0.0 still indicates growth. (Event B on the chart.)

Net foreign purchases dropped from $25.7 billion in January to -$17.8 in February. The forecast of $41.3 totally missed the real the actual data. (Event C on the chart.)

EUR/USD for 2013-04-15

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

Leave a Reply

required
required (will not be published)