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EUR/USD Falls on Thursday, Doesn’t Heed US Macro Releases

EUR/USD fell today, extending yesterday’s drop. The currency pair did not show a strong reaction to US macroeconomic releases that came out during the trading session.

Nonfarm productivity dropped by 4.2% in Q4 2020. That is compared with the median forecast of a 4.7% drop and the previous month’s decline of 4.8%. (Event A on the chart.)

Initial jobless claims were at 745k last week, seasonally adjusted, up from the previous week’s revised level of 736k (730k before the revision). Analysts had predicted a bigger increase to 758k. (Event A on the chart.)

Factory orders increased by 2.6% in January, more than experts had predicted — 2.2%. The previous month’s increase got a positive revision from 1.1% to 1.6%. (Event B on the chart.)

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

Posted on Forex blog.

from Forex Blog https://www.earnforex.com/blog/eur-usd-falls-on-thursday-doesnt-heed-us-macro-releases/

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