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EUR/USD Inches Higher During Wednesday’s Trading

January 13, 2016 by

EUR/USD ticked higher during the Wednesday’s trading session as markets stabilized following the release of favorable macroeconomic data from China. Now, traders wait for the speech of Mario Draghi on Thursday, hoping for some suggestions regarding future actions of European policy makers.

US crude oil inventories increased by just 0.2 million last week compared to the median forecast of 1.9 million. The stockpiles shrunk by 5.1 million the week before. Total motor gasoline inventories gained by 8.4 million barrels. (Event A on the chart.)

Treasury budget deficit narrowed to $14.4 billion in December from $64.6 billion in November but was still bigger than the predicted value of $2.7 billion. (Event B on the chart.)

EUR/USD as of 2016-01-13

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