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Dollar Strengthens on Improved Confidence

April 27, 2010 by

EUR/USD went down today hitting its daily chart support level as the fundamental reports from the United States showed that the situation is improving there. Both consumer confidence and manufacturing sector continued to show a definite growth, surpassing even optimistic forecasts. The currency pair is now trading near 1.3246.

S&P/Case-Shiller home price index for the 20 U.S. cities adjusted seasonally in its yearly form rose to 146.09 or 0.7% in February. Compared to the January’s value, it fell by 0.1%.

Consumer confidence went up from 52.3 to 57.9 in April. The market participants expected only a slight growth to 53.5.

Richmond Fed manufacturing index unexpectedly jumped up from 6 to 30 in April, while the forecasts were pointing at a value of 10.

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

2 Responses to “Dollar Strengthens on Improved Confidence”

  1. Trader886

    What do You think what happen next with EurUsd, a move up?

    Reply

    Andrei Reply:

    It will probably continue going down after a minor retracement.

    Reply

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