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EUR/USD Flat After Violent Swings

March 9, 2011 by

EUR/USD showed violent swings today, yet currently it trades almost unchanged from the opening level. This day, as the whole week, is relatively poor on macroeconomic reports. Tomorrow we’ll have the report on the trade balance, but it’s not expected to show a great change. EUR/USD trades near it opening level of 1.3903 now.

Wholesale inventories were up 1.1% in January from the revised December rise of 1.3%. The expected increase was 0.9%. (Event A on the chart.)

Crude oil inventories increased by 2.5 million barrels from the previous week. Total motor gasoline inventories decreased by 5.5 million barrels last week. (Event B on the chart.)

On Monday, the report on consumer credit was released, showing an increase from $4.1 billion to $5.0 billion in January. (Not shown on chart)

EURUSD for 2011-03-09

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

One Response to “EUR/USD Flat After Violent Swings”

  1. Eddie

    does anyone know of a good blog for forex option color/flows? does anyone have any broker/trader contacts in the forex option markets I could talk to?


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