The EUR/USD pair rose in value on June 12, as global market participants involved in forex trading responded to a handful of recent U.S. economic reports.
Investors who trade binary options could potentially generate a profit by harnessing this information. They might make better-informed decisions by staying abreast of the EUR/USD’s latest price movements.
U.S. retail sales rose 0.3 percent in May, according to figures provided by the Commerce Department and reported by Reuters. This figure fell far short of the 0.6 percent that was expected. David Gilmore, partner at Foreign Exchange Analytics, commented on the impact of this recent report.
“People have been more optimistic on the U.S. second quarter growth in the last week or so, but today we’re getting a bit of a dose that it’s not as spectacular as people were anticipating,” he told the news source.
In addition, market participants responded to news that jobless claims rose to a seasonally-adjusted rate of 317,000 during the week ending June 7, according to the media outlet. This figure surpassed the 310,000 predicted by participants in a Reuters poll.
Free Reports:
After these two reports were released, the EUR/USD increased 0.2 percent to 1.3555, according to Bloomberg News. Douglas Borthwick, the head of foreign exchange at Chapdelaine & Co. in New York, commented on the price movements, as well as the economic reports.
“There is a slight squaring of long U.S. dollar positions going through, leading to gains in the euro-dollar off the $1.3512 lows,” he told the media outlet. “Retail sales is a weak number, and jobless claims are once again creeping higher. The market is firm in the consensus that interest rates will remain low for some time.”
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