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EUR/USD Struggles to Rally

December 11, 2015 by

EUR/USD was attempting to rally today but had troubles in keeping gains. The rally was limited by the outlook for monetary tightening from the Federal Reserve, which was supported by the positive macroeconomic reports released from the United States over Friday.

PPI rose 0.3% in November after falling 0.4% in October. Experts had not anticipated any change to the index. (Event A on the chart.)

Retail sales were up 0.2% in November, matching forecasts exactly, following the 0.1% increase in October. (Event A on the chart.)

Michigan Sentiment Index ticked up from 91.3 in November to 91.8 in December, but the increase was not big enough for the indicator to reach the level of 92.3 predicted by specialists. (Event B on the chart.)

Business inventories were virtually unchanged in October whereas economists had expected the same 0.1% increase as in September. (Event B on the chart.)

EUR/USD for 2015-12-11

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