EUR/USD Moves Sideways in Directionless Trade
February 24, 2021 by
EUR/USD has been trading without a clear direction over Wednesday. There were just a couple of US macroeconomic reports released today, and markets were paying attention mostly to the testimony of Federal Reserve Chairman Jerome Powell.
New home sales were at a seasonally adjusted annual rate of 923k in January, up from the revised December rate of 885k (842k before the revision). Analysts completely missed the mark with their forecast of a drop to 853k. (Event A on the chart.)
US crude oil inventories rose by 1.3 million barrels last week instead of dropping by 6.5 million barrels as analysts had predicted. The reserves were at the
If you have any comments on the recent EUR/USD action, please reply using the form below.