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EUR/USD Moves Sideways amid Trade Uncertainty

November 26, 2019 by

EUR/USD was moving sideways during the past two days. While there was positive news about the US-China trade talks, lack of any concrete details made skeptics doubt the chances of reaching a deal before the end of the year. Uncertainty about the trade deal discourage traders from active participation in the market. The holiday mood ahead of Thanksgiving also contributed to slower trading.

S&P/Case-Shiller home price index rose by 2.1% in September, year-on-year, matching forecasts exactly. The increase followed the 2.0% gain in August. Month-on-month, the index increased by 0.1%. (Event A on the chart.)

Richmond Fed manufacturing index dropped from 8 in October to -1 in November. That was a total surprise to analysts who were expecting just a small decrease to 6. (Event B on the chart.)

Consumer confidence fell to 125.5 in November from 126.1 in October instead of rising to 126.9 as experts had predicted. (Event B on the chart.)

New home sales were at the seasonally adjusted annual rate of 733k in October, down from the revised September rate of 738k (701k before the revision). The actual value was far bigger than 708k predicted by specialists. (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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