The EURUSD turned lower today because of the strong U.S. Consumer Sentiment, and the U.S. 10-year yields topped 3%.
The EURUSD is trading lower today because the U.S. consumer sentiment was strong and the yields broke above 3%. The retail sales numbers did not meet the market expectations, but they were largely ignored by the traders. The euro moved sharply lower after the U.S. data was released. It is currently trading near 1.1650 after reaching as high as 1.1720 earlier during the European session.
The euro moved higher yesterday largely because the ECB President, Mario Draghi, was upbeat in the press conference after the ECB rate decision. Draghi expects to see the euro zone inflation picking up gradually because the euro zone economic growth rates have been exceeding expectations. In addition, the U.S. Core CPI rose only 0.1%, which missed the expected 0.2%.
There has been 1 trade from my MT4 EA since the last update. It was a loss.
The strategy can be found here.
The previous week’s result can be found here.