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EUR/USD Drops as US Data Makes Dollar Stronger

December 11, 2014 by

EUR/USD went down today after three consecutive daily gains. The majority of US reports, including retail sales and unemployment claims data, were good. This allowed the dollar to outperform the euro.

Retail sales rose 0.7% in November, exceeding the median forecast of 0.4% and the revised October’s increase of 0.5%. (Event A on the chart.)

Initial jobless claims fell from 297k to 294k last week instead of rising to 299k as was predicted by analysts. (Event A on the chart.)

Import and export prices fell in November. Import prices were down 1.5% after dropping 1.2% in October. Experts predicted a drop by 1.7%. Exports prices declined 1.0% following the 0.9% in the preceding month. (Event A on the chart.)

Business inventories rose 0.2% in October, matching expectations, after expanding 0.3% in the previous month. (Event B on the chart.)

EUR/USD for 2014-12-11

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