Forex Blog

First-hand Forex trading experience and information about foreign exchange market that will be useful to traders

Archives

Set of Positive Reports from Europe Boost EUR/USD

May 6, 2014 by

EUR/USD jumped today after a set of very good macroeconomic indicators from Europe was released, pushing the currency pair to the highest level since March. Yesterday’s data about the US services industry was very good too, while today’s report about the trade balance was in line with expectations.

US trade balance deficit went down from $41.9 billion in February to $40.4 billion in March. The actual value was near the median forecast of a $40.1 billion deficit. (Event A on the chart.)

Yesterday, a report on ISM services PMI was released, showing a jump from 53.1% in March to 55.2% in April, beyond the analysts’s expectations of 54.3%. (Not shown on the chart.)

EUR/USD-2014-05-06

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

Leave a Reply

required
required (will not be published)
optional