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EUR/USD Extends Decline as US Data Surprises Positively

November 28, 2017 by

EUR/USD fell today, extending yesterday’s decline. All of reports released in the United States today were good and exceeded market expectations. Now, traders wait for the revised estimate of US gross domestic product in the third quarter of 2017 due for release tomorrow. Experts anticipate an upward revision of growth from 3.0% to 3.3%.

S&P/Case-Shiller home price index rose 6.2% in September, above the analysts’ projection of 6.0% and the previous month’s increase of 5.8%. The index was up 0.4%, month-on-month. (Event A on the chart.)

Richmond Fed manufacturing index jumped from 12 to 30 in November, far above the reading of 14 predicted by analysts. (Event B on the chart.)

Consumer confidence climbed to 129.5 in November from 126.2 in October. That is instead of falling to 123.9 as experts had predicted. (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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