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EUR/USD Bullish Despite High U.S. Consumer Confidence

December 29, 2009 (Last updated on January 4, 2010) by

The EUR/USD currency pair rose today as the appeal for the greenback remained rather negative in a high risk fueled session were traders left dollar-priced positions to invest in higher-yielding currencies. Consumer confidence helped the dollar to stop its losing streak versus the euro but came slightly below forecasts, having a mild impact in the currency pair. EUR/USD is falling now after the confidence report was published in the U.S. and is trading at 1.4422.

S&P/Case-Shiller home price index decreased at a seasonally adjusted rate of 7.3% in October from a previous revised declined of 9.3%. Forecasts suggested a decline of 7.1% for this indicator. In the monthly comparison it rose 145.36 from a previous revised reading of 144.83.

Consumer confidence index rose to 52.9 in December from a previous 49.5 in October, coming near forecasts that suggested this index to stand at 53 in the current month.

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