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EUR/USD Erases Gains, Falls for Second Session

March 28, 2012 by

EUR/USD slipped today, falling for the second trading day. Earlier, the currency pair advanced as European officials reassured investors that the worst period of the crisis is over. Tomorrow’s data is expected to show that unemployment claims in the United States remained stable and the US economy expanded.

Durable goods orders rose 2.2% in February, following the drop by 3.6% (revised from 4.0%) in January. The expected increase was 3.0%. (Event A on the chart.)

Crude oil inventories increased by 7.1 million barrels, while total motor gasoline inventories decreased by 3.5 million barrels last week. (Event B on the chart.)

EUR/USD for 2012-03-28

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