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EUR/USD at New Max Since December 2009

April 26, 2011 by

Mixed fundamental reports coming out from the US today pushed the EUR/USD currency pair up to a new record maximum level since late December 2009. While there are positive news about the consumer confidence levels and the optimism from the yesterday’s new home sales report, the dollar-negative news about home prices and manufacturing activity are prevailing. EUR/USD is now trading near 1.4619.

S&P/Case-Shiller home price index in its seasonally-adjusted form fell by 3.26% this February compared to February 2010, which is pretty close to the forecast of 3.2% and to the previous decline of 3.1%. (Event A on the chart.)

Consumer confidence rose from 63.8 (adjusted positively from 63.4) to 65.4 in April in the United States. A growth to 64.5 was expected by the traders. (Event B on the chart.)

Richmond Fed manufacturing index surprisingly declined from 20 to 10 in April. It was expected to remain unchanged this month. (Event B on the chart.)

Yesterday, a report on new home sales in the US was released. They rose from 270k to 300k annual seasonally-adjusted rate, adding a lot of optimism to the US real estate market. (Not shown on the chart.)

EUR/USD 2011-04-26

If you have any comments on the recent EUR/USD action, please reply using the form below.

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