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Dollar Loses to Euro Moderately after Good Fundamental News

March 25, 2009 by

EUR/USD rose today for the first time in four days as the U.S. fundamental news came out better than expected and spurred optimism in the Forex and stocks traders. At this moment EUR/USD is trading near 1.3549 after reaching as low as 1.3417 earlier today.

Durable goods orders increased by 3.4% in February after the revised decline by 7.3% in January (revised down from -5.2%). The market analysts expected this indicator to continue going down at 2.4% last month.

New home sales rose for the first month since June 2008 this February in United States — from 322k to 337k seasonally-adjusted annual rate. They were estimated to go down to 300k.

Crude oil inventories rose by 3.3 million barrels last week.

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