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The Fall of EUR/USD Unaltered by Macroeconomic Data

April 11, 2014 by

EUR/USD was in a strong downward trend since the early European morning today. Perhaps, the markets were affected by the German inflation numbers that came out exactly in line with the forecasts today. The currency pair failed to react to a set of positive macroeconomic reports from the United States in a sensible manner.

PPI added 0.5% in March on month-on-month basis. It rose faster than market participants have expected (0.1%). PPI fell by 0.1% in February. (Event A on the chart.)

Preliminary April report of Michigan Sentiment Index has shown an unexpected increase from 80.0 to 82.6. A growth to 81.0 was expected. (Event B on the chart.)

EUR/USD as of 2014-04-11

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

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