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EUR/USD Drops on Positive US Reports, Recovers Later

January 28, 2020 by

EUR/USD fell intraday on mostly positive US data but has rebounded by now.

Durable goods orders rose by 2.4% in December — two times the forecast increase of 1.2%. The indicator fell by 2.1% in the previous month. (Event A on the chart.)

S&P/Case-Shiller home price index rose by 2.6% in November, year-on-year, in line with forecasts of a 2.5% increase. The index rose by 2.2% in the preceding month. Mont-on-month, the index edged up by 0.1%. (Event B on the chart.)

Richmond Fed manufacturing index jumped from -5 in December to 20 in January, far above the median forecast of -3. (Event C on the chart.)

Consumer confidence climbed to 131.6 in January from 128.2 in December, whereas analysts had expected it to stay unchanged. (Event C on the chart.)

Yesterday, a report on new home sales was released, showing that they were at a seasonally adjusted annual rate of 694k in December, down from the revised November level of 697k (719k before the revision). The median forecast had promised an increase to 730k. (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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