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EUR/USD Rises on Poor TIC Flows and Consumer Sentiment

August 15, 2014 by

The US dollar declined versus its European counterpart today following the poor macroeconomic reports. The first hit was delivered by the Treasury International Capital data report, the second blow came from the University of Michigan consumer sentiment index.

NY Empire State Index slid from 25.6 in July to 14.7 in August. The consensus forecast was pointing at 20.0 value. (Event A on the chart.)

PPI rose by 0.1% in July, following 0.4% growth in June and matching the forecast. (Event A on the chart.)

Net foreign purchases of the long-term US papers were at -$30.2 billion in June compared to $7.7 billion reported for May (revised down from $9 billion). (Event B on the chart.)

The report on industrial production and capacity utilization was quite positive. Production added 0.4% in July (vs. 0.3% forecast), while capacity utilization rate grew to 79.2% (in line with the forecasts. (Event C on the chart.)

Michigan Sentiment Index fell from 81.8 to 79.2 according to the preliminary report for August. The median forecast was for a growth to 82.5. (Event D on the chart.)

EUR/USD as of 2014-08-15

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