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EUR/USD Declines Despite Increased House Prices

September 29, 2009 by

EUR/USD continued to fall today in the Forex market despite the optimistic stock market conditions and good housing report. It’s either that the euro is losing its attractiveness to the global investors or the greenback is beginning to really benefit from the better prospects for the U.S. economy. EUR/USD is currently trading near 1.4537.

S&P/Case-Shiller Home Price index (seasonally-adjusted) grew for a second month in a row in July 2009. The index went up from 141.42 to 143.05 from the 
previous month. It decreased by 13.41% year-over-year, following 15.40% decrease a month earlier. The forecasted year-over-year drop was 14.25%.

Consumer confidence went down from 54.5 to 53.1 in September. It was an unexpected drop as the forecasts hinted a growth to 57.0.

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