Forex Blog

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


EUR/USD Fluctuates on Mixed Reports

August 3, 2011 by

The euro traded mixed against the US dollar after today’s macroeconomic reports, gaining considerably before the European trading session started. Noteworthy is the fact that the EUR/USD reacted positively to the positive US reports and vice versa for the negative ones today.

ADP employment report showed a seasonally adjusted growth of the payrolls by 114k in July. This growth followed 157k advance in June. The forecast for the current report was at 100k. (Event A on the chart.)

Factory orders fell as expected — by 0.8% in June. The decline followed a growth of 0.6% in May. (Event B on the chart.)

ISM services PMI declined along with its manufacturing counterpart in July. It was down from 53.3% to 52.7%. A slight growth to 53.5% was forecasted. (Event B on the chart.)

Crude oil inventories and the total motor gasoline inventories continued to rise last week and added 1.0 million and 1.7 million barrels respectively. (Event C on the chart.)

Yesterday, June personal income and spending figures were released in the US. The former rose by 0.1% (vs. the 0.2% forecast and the same growth in May), while the latter fell by 0.2% (vs. the 0.1% gain forecast and the same growth a month before). (Not shown on the chart.)

EUR/USD as of 2011-08-03

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

Leave a Reply

required (will not be published)