Euro’s Rally Stalls

 

 

EUR/USD fell today after two sessions of gains as the situation with Spain remained uncertain. Poor economic data from China added to the negative sentiment on the Forex market. US retail sales were higher than expected, but the manufacturing index was not as good as analysts have predicted.

Retail sales rose 1.1% in September, following the 1.2% increase in August (revised from 0.9%). The forecast moderate at 0.7%. (Event A on the chart.)

NY Empire State Index was at -6.2 in October. That was above the September figure of -10.4, but below the predicted -4.5. (Event A on the chart.)

Business inventories went up 0.6% in August, above the forecast 0.5%, but below the July change of 0.8%. (Event B on the chart.)