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EUR/USD Extends Move Up

August 20, 2015 by

EUR/USD continued to move higher following yesterday’s minutes of the Federal Reserve that were considered dovish by market participants. Today’s economic data from the United States was mixed, though traders paid attention mostly to the negative part. Traders now consider the possibility of a delayed interest rate hike, and this gives the euro an edge on the dollar.

Initial jobless claims rose from 273k to 277k last week while analysts had expected them to stay basically unchanged. (Event A on the chart.)

Existing homes sales were at the seasonally adjusted annual rate of 5.59 million in July, rising from the June’s 5.48 million and above the 5.45 level predicted by experts. (Event B on the chart.)

Philadelphia Fed manufacturing index increased from 5.7 in July to 8.3 in August, beating the median economists’ expectation of 6.9. (Event B on the chart.)

Leading indicators dropped 0.2% in July instead of rising at the same rate as had been predicted by specialists. The indicators gained 0.6% in June. (Event B on the chart.)

EUR/USD for 2015-08-20

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