The EUR/USD Reaches The Topmost Level Since October

Yesterday EUR/USD prolonged its session to the fourth continuous day, increasing to the topmost level since October 15. The unexpected growth of unemployment claims makes it even harder for the dollar to end its fall versus the euro. The US cash firmed a bit after the huge rise of the Chicago Business Barometer although the greenback still stands very vulnerable.

Daily altered initial unemployment claims rose to 276k last week from 265k the week previously while analysts had predicted the indicator to remain nearly unchanged. (Event A on the chart.)

Chicago PMI rose from 47.6 to 53.6 in March. The average predictors’ projection was pointing at 50.5 as a attainable numeric value. (Event B on the chart.)

EURUSD-2016-03-31

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Mike N

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