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Euro Attempts to Bounce vs. Dollar

January 30, 2017 by

The dollar gained on the euro today even though the US currency was generally weak during the current trading session. With that said, EUR/USD is attempting to rebound as of now, and it has already erased about a half of today’s losses. US economic data released today was generally solid, while German inflation missed expectations, causing the decline of the currency pair.

Personal income and spending rose in December. Income was up 0.3% compared to the consensus forecast of 0.4% and the previous month’s gain of 0.1% (revised, no change was registered before the revision). Spending increased by 0.5% versus the predicted increase by 0.4% and the November rise by 0.2%. (Event A on the chart.)

Pending home sales increased 1.6% in December, matching forecasts exactly, after falling 2.5% in November. (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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