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Dollar Less Bullish After Bad Housing, Confidence Data

May 27, 2008 by

U.S. dollar stopped its appreciation against euro and pound today after macroeconomical statistics was released today in U.S. Disappointing data stopped EUR/USD from going below 1.5700 level (which was a lowest level last Friday too) and the currency pair went up to 1.5731 from its daily bottom. The trading opened today at 1.5774 for EUR/USD.

New home sales in April were at 526k — above the expected 520k, but the March value was revised down from 526k to 509k.

Consumer confidence fell to its lowest value since 1992 in May — 57.2 down from 62.8 in April. Median forecast value for this indicator was 61.0.

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