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Bad U.S. Data Don’t Bother EUR/USD

June 26, 2007 (Last updated on November 29, 2009) by

Forex seems to be ignoring today’s macroeconomic data that came from United States — dollar is almost at the same level (slightly better even) as it was when the week started, a ranging week so far. New home sales disappointed U.S. optimists by showing a decline from 981,000 to 915,000 houses for May, it is even lower than experts expected — 925,000. Consumer confidence — one of the basic indicator of economical growth declined in June compared to May — 103.9 from 108.5, while it was expected to come just a little lower — 106.0. Such bad news for U.S. doesn’t add any optimism to USD bulls and can cause some further EUR/USD growth.

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