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EUR/USD Pushes Higher

August 10, 2016 (Last updated on September 21, 2016) by

EUR/USD continued to rally as the post-NFP rally of the dollar was fading. Absence of important macroeconomic data from the United States was not helpful to the greenback either. Saying that, Friday is going to be reach on reports from the USA with most noteworthy being the PPI, retail sales, and the consumer sentiment.

Crude oil inventories increased by 1.1 million barrels last week after rising 1.4 million the week before while analysts had predicted a drop by 1.3 million. At the same time, total motor gasoline inventories dropped by 2.8 million barrels. (Event A on the chart.)

Treasury budget posted a deficit of $112.8 billion in July after logging a surplus of $6.3 billion in June. That is compared to the predicted shortage of $119.0 billion. (Event B on the chart.)

EUR/USD as of 2016-08-10

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