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EUR/USD Supported by Poor US Fundamentals

December 23, 2019 by

EUR/USD was on a declining trajectory prior to the releases of the macroeconomic reports out of the United States today. The disappointing numbers let the euro appreciate against the US dollar before the currency pair entered a period of consolidation later.

Durable goods orders slid 2.0% in November after gaining 0.5% (revised from 0.6% growth) in October. The forecast for November was a gain of 0.2%. (Event A on the chart.)

New home sales went up from the revised annual seasonally-adjusted level of 710k in October to 719k in November, missing the forecast mark of 730k sales. (Event B on the chart.)

EUR/USD as of 2019-12-23

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