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Bad US Fundamentals Do Not Help EUR/USD

October 29, 2013 by

EUR/USD fell for the second trading session today even as most of economic reports were rather disappointing. The Federal Reserve starts its policy meeting today. It is expected that the central bank will maintain its monetary stimulus, but even such outlook was not able to support the currency pair.

PPI fell 0.1% in September on a seasonally adjusted basis instead of rising 0.2% as was predicted by analysts. The gauge rose 0.3% in August. (Event A on the chart.)

Seasonally adjusted retail sales were also down 0.1% in September, while traders have hoped that for the same rate of growth as in August — 0.2%. (Event A on the chart.)

S&P/Case-Shiller home price index advanced 12.8% in August from a year ago. The growth exceeded the predicted increase by 12.4% and the July rise by 12.3%. (Event B on the chart.)

Consumer confidence index sank from 80.2 (revised from 79.7) in September to 71.2 in October. The median forecast was at 75.2. (Event C on the chart.)

Business inventories rose 0.3% in August, matching expectations, following the 0.4% increase in July. (Event C on the chart.)

EUR/USD for 2013-10-29

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