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EUR/USD Ends Rally After Positive US Data

March 24, 2015 by

EUR/USD was rising higher at the first half of the current trading session, extending its gains. Yet the rally has come to an end after the data showed that the US inflation bounced in February after the previous month’s drop. The currency pair maintained losses after the positive housing report.

CPI rose 0.2% in February, matching forecasts exactly, after the 0.7% drop in January. (Event A on the chart.)

Richmond Fed manufacturing index dropped from 0 to -8 in March instead of rising to 2 as was predicted by analysts. (Event B on the chart.)

New home sales were at the seasonally adjusted annual rate of 539k in February versus the forecast figure of 466k. The January’s reading was revised positively from 481k to 500k. (Event B on the chart.)

EUR/USD for 2015-03-24

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