Forex Blog

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

Archives

EUR/USD Fluctuates on Uncertainty About Global Economy

August 24, 2011 by

EUR/USD fluctuated today as the global economy showed both good and bad signs, leaving traders unsure how to react. US durable goods orders turned out to be much better than expected last month putting pressure on the currency pair.

Durable goods orders rose 4.0% in July, almost two times higher than forecast 2.1%. The increase followed the decline in June that was revised from 2.1% to 1.3%. (Event A on the chart.)

Crude oil inventories decreased by 2.2 million barrels and total motor gasoline inventories increased by 1.4 million barrels last week. (Event B on the chart.)

EUR/USD for 2011-08-24

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

One Response to “EUR/USD Fluctuates on Uncertainty About Global Economy”

  1. Jason Stapleton

    It’s mind numbing, waiting on this EURO to decide what it wants to do. Up and down. It’s painful. LOL

    Reply

Leave a Reply

required
required (will not be published)