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EUR/USD Falls to New Lows amid Europe’s Political Turmoil

May 29, 2018 by

EUR/USD fell today, extending yesterday’s decline and touching new lows for the year, amid ongoing political crisis in Europe. The decent macroeconomic reports released in the United States over the current trading session added to the downward momentum of the currency pair.

S&P/Case-Shiller home price index rose 6.8% in March, year-on-year, the same as in February. Analysts had expected a slowdown to 6.5%. Month-over-month, the index was up as much as 1%. (Event A on the chart.)

Consumer confidence was 128.0 in May, close to the analysts’ projections of 128.2. The April reading got a significant negative revision from 128.7 to 125.6. (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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