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EUR/USD Rallies After ECB, Struggles to Keep Gains

October 2, 2014 by

EUR/USD rallied today after the European Central Bank refrained from easing its monetary policy further, but the currency pair is on the verge of losing its gains even though data from the United States was not supportive for the dollar.

Initial jobless claims fell from 295k to 287k last week instead of rising to 299k as was predicted by analysts. (Event A on the chart.)

Factory orders fell 10.1% in August following the 10.5% increase in July. The actual drop was bigger than the predicted 9.4%. (Event B on the chart.)

EUR/USD for 2014-10-02

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