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EUR/USD Drops on Geopolitical Tensions, Consumer Confidence

May 28, 2019 by

EUR/USD declined today as the US dollar got boost from geopolitical tensions, including the Sino-US trade war, and the surprisingly big jump of the US consumer confidence.

S&P/Case-Shiller home price index rose 2.7% in March, whereas market participants had expected about the same 3.0% rate of growth as in February. (Event A on the chart.)

Consumer confidence climbed to 134.1 in May from 129.2 in April, exceeding the consensus forecast of 130.1. (Event B on the chart.)

On Friday a report on durable goods orders was released, showing a drop of 2.1% in April. That is compared to the median forecast of a 2.0% and the increase by 2.6% registered in March. (Not shown on the chart.)

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

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