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EUR/USD Rises, Yet May Resume Decline

February 15, 2011 by

EUR/USD rose a little today after it dropped yesterday and currently it looks like it may resume its decline. This day, as well as the next two days, is rich for the macroeconomic data. The reports continue to demonstrate growth of US economy, but some of them were worse than expected. EUR/USD trades currently at about 1.3497 after it rose previously to 1.3550.

Retail sales increased 0.3% in January from December. The November to December change was revised from 0.6% to 0.5%. (Event A on the chart.)

NY Empire State Index rose from 11.9 in January to 15.4 in February, indicating that conditions for New York manufacturers continued to improve. The median forecast was 14.7. (Event A on the chart.)

US import and export prices increased in January. Import prices rose 1.5% in January, following the 1.2% increase in December. They were expected to rise by 0.9%. Export prices rose 1.2% in January, following the increase by 0.6% in December. (Event A on the chart.)

Net foreign purchases of long-term securities were $65.9 billion in December, down from $85.1 billion in November. The expected value was $91.3 billion. (Event B on the chart.)

Business inventories, adjusted for seasonal variations but not for price changes, were up 0.8% in December from November. This reading is higher than November reading of 0.4% and the forecast 0.7% growth. (Event C on the chart.)

EURUSD for 2011-02-15

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

One Response to “EUR/USD Rises, Yet May Resume Decline”

  1. nick forex

    EUR/USD looked like it could rise after the technical price action today with a break of the trend line and dollar index PA.


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