Forex Blog

The dollar is rising against the euro today, almost snapping the yesterday gain on EUR/USD, as the personal income and spending statistics worsened in September. The macroeconomic reports that were released today sent the stock markets down after a yesterday rally and the euro continued it’s weekly slump, showing a biggest 5-day drop since April this year. EUR/USD is trading at 1.4746 now.

U.S. personal income remained unchanged in September after rising by 0.1% in August. The market participants expected such value from the report. Personal spending declined by 0.5% in September, following 1.4% growth during a previous month. This value was also expected by the analysts.

Chicago PMI index rose unexpectedly fast in October — from 46.1 to 54.2. The forecasts pointed at 49.0 as a new value for this manufacturing indicator.

University of Michigan Index of Consumer Sentiment decreased from 73.5 to 70.6 in October, while a decline to 70.0 was forecasted by the analysts.

If you have any comments on the recent EUR/USD action, please, reply using the form below.

Tags: Chicago PMI, Michigan Sentiment Index, personal income

This entry was posted on Friday, October 30th, 2009 at 5:33 pm. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.