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EUR/USD Recovers as Draghi Does Not Consider Negative Rates

November 21, 2013 by

EUR/USD was falling today, extending yesterday’s slump, but recovered as European Central Bank President Mario Draghi said that he did not consider implementing negative interest rates even though such possibility was discussed on the recent policy meeting. Data from the United States continues to disappoint dollar bulls, though falling unemployment claims helped them to retain confidence.

PPI decreased 0.2% in October, matching forecasts, after falling 0.1% in September.

Initial jobless claims fell from 344k to 323k in the previous week. The median forecast was at 333k.

Philadelphia Fed manufacturing index slumped from 19.8 in October to 6.5 in November, missing the analysts’ estimate of 15.8.

EUR/USD for 2013-11-21

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