The EUR/USD declines after the European Central Bank administered a policy conference today. The ECB President Mario Draghi tried to prevent any disturbances, creating fairly unbiased comments. (Event B on the chart.) Still the display for the European economy prevailed somewhat discouraged, allowing incentive for merchants to sell the euro. As for US economic report, it was fairly stable today, past any huge shocks.

ADP employment increased by 173k in May, in alignment with market anticipations, after rising 166k in April (positively adjusted from 156k). (Event A on the chart.)

Regularly altered initial unemployment claims were at 267k last week; hardly change from 268k the previous week. That is in comparison to the prediction rate of 270k. (Event B on the chart.)

Crude oil stocks decline by 1.4 million barrels the previous week but prevailed nearby historically steep levels for this period of year. Specialists had anticipated a decrease by 2.7 million barrels, and the stockpiles declined 4.2 million the previous week. Overall motor gasoline stocks decreased 1.5 million barrel, earlier were still in the top limit of the normal range. (Event C on the chart.)

The EUR USD Declines After ECB

Mike N
Mike N

Financial Trading Systems Design Expert

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