Sat. Oct 16th, 2021

EUR / USD increases, struggles to keep gains

March 31, 2021 per

The EUR / USD has risen today, but has struggled to maintain gains. U.S. macroeconomic data released during the trading session appears to have a limited impact on currency pair movements.

ADP employment increased by 517k in March, without the average forecast of 552k. The previous month’s increase got a positive revision from 117,000 to 176,000. (Event A in the graph.)

Chicago PMI rose to 66.3 in March from 59.5 in February. The actual value was not only significantly higher than the consensus forecast of 61.2, but also the highest since July 2018 (event B on the chart).

Sale of pending houses it sank 10.6% in February, much more than experts had predicted, 3.1%. The decrease from the previous month was revised from 2.8% to 2.4%. (Event C in the graph.)

US crude oil inventories fell 0.9 million barrels last week, more than experts had predicted: 1.3 million barrels, but remained around 6% above the five years average of this time of year. Stocks rose 1.9 million barrels the previous week. Total gasoline inventories for engines it fell by 1.7 million barrels, but was about 4% above the five years average. (Event D in the graph.)

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