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EUR/USD Drops as US-China Tensions Calm Down

August 26, 2019 (Last updated on August 27, 2019) by

EUR/USD fell today as the US-China trade tensions calmed down a bit. While the currency pair climbed on Friday after the trade conflict flared up yet again, the market sentiment improved today as US and China’s officials used more peaceful rhetoric.

Durable goods orders climbed 2.1% in July. That is compared to the increase of 1.9% in June and the predicted gains of 1.4%. (Event A on the chart.)

On Friday, a report on new home sales was released, showing that the sales were at a seasonally adjusted annual rate of 635k in July, down from the revised June rate of 728k (646k before the revision). Analysts had predicted a somewhat higher figure of 645k. (Not shown on the chart.)

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