Economics
EUR/USD Rebounds After FOMC-Inspired Decline Loses Momentum
EUR/USD was falling at the start of Thursday’s trading session but reversed movement later and has erased almost all of its losses by now. The dollar was surprisingly strong following yesterday’s monetary policy announcement from the FOMC considering how dovish it was. But apparently, markets were expecting even …

EUR/USD was falling at the start of Thursday’s trading session but reversed movement later and has erased almost all of its losses by now. The dollar was surprisingly strong following yesterday’s monetary policy announcement from the FOMC considering how dovish it was. But apparently, markets were expecting even more dovishness, perhaps even hints at additional monetary easing. But the Federal Reserve revealed that it is not planning to change its policy in the foreseeable future, making traders think that perhaps the greenback was oversold. Yet analysts speculated that the gain will likely be
Philadelphia Fed manufacturing index slipped from 17.2 in August to 15.0 in September, matching the median forecast exactly. It was the fourth consecutive positive reading after the index slumped to extremely low negative readings in April and May. (Event A on the chart.)
Initial jobless claims were at 860k last week, seasonally adjusted, down from the previous week’s revised level of 893k (884k before the revision). Analysts had predicted a bigger drop to 825k. (Event A on the chart.)
Both housing starts and building permits fell in August. Housing starts were at a seasonally adjusted annual rate of 1.42 million, down from 1.49 million in July. Building permits were a seasonally adjusted annual rate of 1.47 million, down from 1.48 million in the previous month. That is compared with analysts’ predictions of 1.47 million for housing starts and 1.51 million for building permits. (Event A on the chart.)
If you have any comments on the recent EUR/USD action, please reply using the form below.
Posted on Forex blog.

$18 For A Michelob Ultra: ‘Beer-Flation’ Hits PGA Championship
$18 For A Michelob Ultra: ‘Beer-Flation’ Hits PGA Championship
This week’s beer prices at the 2022 PGA Championship at Southern Hills Country…
The 7 Best Meme Coins to Buy for the Second Half of 2022
These meme coins have a strong chance of providing healthy returns in the second half of 2022.
Dogecoin (DOGE-USD): Has long been dogged by claims that…
Economic Optimism Has Collapsed Under Biden: Poll
Economic Optimism Has Collapsed Under Biden: Poll
While the Biden administration continues to congratulate itself for the ‘strongest job creation…
-
Precious Metals12 hours ago
Von Greyerz: Gold As ‘Cheap’ Today As In 1971
-
Companies23 hours ago
Bluestone Announces Results from Annual General Meeting
-
Gold21 hours ago
Ground Breakers: Falling metal prices deliver hangover for Aussie miners
-
Economics16 hours ago
The Swiss Connection: How Russia Is Weathering Tough Sanctions
-
Gold12 hours ago
Market Rout Extends With Futures Tumbling To Verge Of Bear Market
-
Base Metals16 hours ago
Chilean top court rejects environmentalists’ appeal on Dominga project
-
Financing News4 hours ago
NexGen Files Management Information Circular in Connection with Annual General and Special Meeting of Shareholders
-
Financing News18 hours ago
Atalaya Mining PLC Announces Q1 2022 Financial Results