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Dollar Up 3rd Day on Lower Consumer and Manufacturer Sentiment

October 27, 2009 by

EUR/USD went down for a third day in a row today after the fundamental reports from U.S. showed decline of the confidence in both consumer and manufacturer sectors of the economy. Only housing price index showed a moderate monthly growth today. EUR/USD is currently trading near 1.4810.

S&P/Case-Shiller home price index based on the seasonally-adjusted prices decreased by 11.36% in August compared to the same month of 2008. It rose from 143.12 to 144.51 in month-to-month perspective.

Consumer confidence decreased from 53.4 to 47.7 in October. A small growth to 53.5 was expected by the market participants. Index reading below 50 is critical and suggests worsening of the conditions for the consumer sector.

Richmond Fed manufacturing index decreased from 11 to 7 in October. It was expected to be reported at the same level as previous month.

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

One Response to “Dollar Up 3rd Day on Lower Consumer and Manufacturer Sentiment”

  1. clair

    After the US consumer confidence data were published, the euro and sterling started losing ground against the greenback. The EurUsd is falling 92 pips, I thought it might go up but it didn’t got me any scalping pips :(
    There is good news section at broker ACM Forex site
    Great blog here men!!!


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