EUR/USD Continues to Decline amid US-China Trade Talks Optimism

EUR/USD continued to decline today as traders felt optimistic about the US-China trade negotiations amid signs that the world’s two biggest economies are close to a deal. Currently, the pair has paused its decline and is moving sideways.

Initial jobless claims were at the seasonally adjusted level of 211k last week, down from the previous week’s revised level of 219k. The actual value was close to the median forecast of 215k. (Event A on the chart.)

Consumer credit rose by just $9.5 billion in September, missing the consensus forecast of $15.6 billion. The indicator was up by $17.9 billion in August. (Event B on the chart.)

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Posted on Forex blog.

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