Forex Blog

First-hand Forex trading experience and information about foreign exchange market that will be useful to traders

Archives

EUR/USD Remains Flat, US Economy Looks Good

May 12, 2011 by

EUR/USD traded sideways for the most part of the day. The currency pair fell a little, but quickly recovered. The economic reports from the US were very positive today and that may put a downward pressure on the euro. EUR/USD trades now at 1.4218.

PPI rose 0.8% in April, on a seasonally adjusted basis, following the increase of 0.7% in March. Estimates before the report have put growth at 0.6%. (Event A on the chart.)

Retail sales in the US increase 0.5% April, in line with forecasts, after it rose 0.9% (revised up from 0.4%) in March. (Event A on the chart.)

Initial jobless claims decreased to 434k from the previous week’s revised figure of 478k, being near the predicted value of 430k. (Event A on the chart.)

Business inventories grew 1.0% in March, compared to the predicted value of 0.8% and the February growth by 0.7%. (Event B on the chart.)

EURUSD for 2011-05-12

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

Leave a Reply

required
required (will not be published)