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EUR/USD Drops Further

June 10, 2016 by

EUR/USD extended its decline today following the relatively positive sentiment report from the University of Michigan. Now, traders anxiously anticipate the next week’s policy meeting of the Federal Reserve.

Michigan Sentiment Index fell from 94.7 in May to 94.3 in June though it still was above the predicted value of 94.1. (Event A on the chart.)

Treasury budget logged a deficit of $52.5 billion in May following the surplus of $106.5 billion in April. The median analysts’ estimate was pointing at a deficit of $56.2 billion. (Event B on the chart.)

EUR/USD as of 2016-06-10

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