Forex Blog

First-hand Forex trading experience and information about foreign exchange market that will be useful to traders

Archives

EUR/USD Falls Pressed on by Fundamentals

July 11, 2013 by

The euro fell against the US dollar today. The first (and major) bearish wave was caused by the release of German wholesale price index report (event A on the chart); the second (and smaller) one was brought by the US fundamentals several hours later.

Initial jobless claims unexpectedly jumped up to 360k last week. A small decline from 344k to 340k was expected. (Event B on the chart.)

US export and import prices export prices continued to decline in June. Import prices fell by 0.2% following a drop of 0.7% (revised from 0.6% drop) in May, whereas a 0% change was forecasted. Export prices decreased by 0.1% following 0.5% drop in May. (Event B on the chart.)

Treasury budget report has shown a surplus of $116.5 billion for the month of June. It was only slightly better than the median forecast value ($115.0 billion surplus) and significantly better than $59.7 billion deficit posted for June 2012. (Event C on the chart.)

EUR/USD as of 2013-07-11

If you have any comments on the recent EUR/USD action, please reply using the form below.

Leave a Reply

required
required (will not be published)