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EUR/USD Struggles to Keep Rising for Second Day

January 10, 2017 by

EUR/USD rose today following yesterday’s rally but currently is struggling to keep gains. This week is light on economic data from the United States for the most part, Friday being the exception with plenty of reports.

Wholesale inventories rose 1.0% in November according to the final estimate while analysts had predicted the same 0.9% as in the preliminary report. The stockpiles were down 0.4% in October. (Event A on the chart.)

Yesterday, a report on consumer credit was released, showing an increase by $24.6 billion in November after rising by $16.2 billion in October. The actual increase was far above the predicted gain by $18.3 billion. (Not shown on the chart.)

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

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