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EUR/USD Decline After US Pending Home Sales Beat Expectations

September 26, 2019 by

EUR/USD was attempting to rise today but reversed gains after the release of better-than-expected US pending home sales.

USD GDP rose 2.0% in Q2 2019 according to the third and final estimate. It was unchanged from the preliminary estimate and matched forecasts. GDP expanded 3.1% in Q1. (Event A on the chart.)

Initial jobless claims were at a seasonally adjusted level of 213k last week, whereas experts had predicted them to stay unchanged from the previous week’s revised level of 210k. (Event A on the chart.)

Pending home sales rose by 1.6% in August instead of falling by 1.0% as analysts had predicted. The indicator slid 2.5% in July. (Event B on the chart.)

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

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