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Good Data from USA Doesn’t Prevent Rally of EUR/USD

June 16, 2014 by

Most of macroeconomic indicators released in the United States today were good, but this did not prevent a rally of EUR/USD.

NY Empire State Index rose a little from 19.0 in May to 19.3 in June, while analysts thought it would fall to 15.2. (Event A on the chart.)

Net foreign purchases were at $24.2 billion in April, compared to the reading of $4.1 billion in March. It was a nasty surprise for those market participants who expected a positive value of $41.3 billion. (Event B on the chart.)

Industrial production rose 0.6% in May, in line with traders’ expectations, after falling 0.3% in April. Capacity utilization was at 79.1% in May, while experts believed that it would stay at the previous month’s revised level of 78.9%. (Event C on the chart.)

EUR/USD-2014-06-16

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