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EUR/USD Little Changed After Day of Fed Decision

March 16, 2017 by

EUR/USD was little changed today, trading near the highest level in a month and a half, following yesterday’s decision by the Federal Reserve to hike interest rates. Today’s data from the United States was very mixed, giving little guidance to the currency pair.

Housing starts were at the seasonally adjusted annual rate of 1.29 million in February, an increase from the January’s rate of 1.25 million. Building permits, on the other hand, logged a decrease from 1.29 million in January to the seasonally adjusted annual rate of 1.21 million in February. Analysts had predicted a reading of 1.26 million for both indicators. (Event A on the chart.)

Philadelphia Fed manufacturing index dropped to 43.3 in February to 32.8 in March. Forecasts promised even bigger drop to 30.2. (Event A on the chart.)

Initial jobless claims slipped from 243k to 241k last week. The median forecast promised a reading of 245k. (Event A on the chart.)

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

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