EUR/USD declined today as markets were in the
US GDP expanded 3.4% in Q3 2018 according to the third and final estimate. Economists had expected the same 3.5% rate of growth demonstrated in the preliminary estimate. The US economy grew 4.2% in Q2 2018. (Event A on the chart.)
Durable goods orders rose 0.8% in November, two times less than analysts had forecast — 1.6%. The indicator fell 4.3% in October. (Event A on the chart.)
Personal income and spending rose in November. Income rose 0.2%, down from 0.5% in October and missing the analysts’ average estimate of 0.3%. Spending increased 0.4%, exceeding the consensus forecast of 0.3%. Furthermore, the October increase got a positive revision from 0.6% to 0.8%. Core PCE inflation rose 0.1% in November, the same as in October, while experts had anticipated a bigger increase of 0.2%. (Event B on the chart.)
Michigan Sentiment Index improved to 98.3 in December from 97.5 in November. (Event B on the chart.) Experts and the preliminary reading had promised the index to stay unchanged. The report commented to the positive result:
Consumer confidence remained in December at the same record favorable levels as it has throughout the year.
If you have any comments on the recent EUR/USD action, please reply using the form below.