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EUR/USD Falls as Dollar Sell-Off Halts

March 27, 2018 (Last updated on March 28, 2018) by

EUR/USD fell today as the dollar was rebounding after the previous sell-off. Market analysts named several possible reasons for the rebound. One of them was subsiding fears of trade wars between China and the United States as the two countries were negotiating about a trade agreement. The other were month-end flows as investors were converting their earnings into the US currency.

S&P/Case-Shiller home price index rose 6.4% in January, year-on-year. That was a faster pace of growth than 6.1% predicted by analysts and 6.3% registered in December. Month-over-month, the index rose 0.3%. (Event A on the chart.)

Consumer confidence dropped to 127.7 in March from 130.0 in February (revised down from 103.8). That is instead of an increase to 131.2 anticipated by economists. (Event B on the chart.)

Richmond Fed manufacturing index dropped from 28 in February to 15 in March, below the forecast value of 23. (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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