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EUR/USD Down as Dollar Retains Strength

August 30, 2016 (Last updated on September 21, 2016) by

EUR/USD fell today as the dollar continued to be firm after hawkish comments from Federal Reserve officials. Economic data released from the United States at the start of the week was solid, supporting the view that the Fed will act soon, raising interest rates.

S&P/Case-Shiller home price index rose 5.1% in June (year-over-year), matching specialists’ expectations. The index climbed 1.7% month-on-month. (Event A on the chart.)

Consumer confidence climbed from 96.7 in July (revised down from 97.3) to 101.1 in August. The analysts’ median forecast had pointed at a lower value of 97.2. (Event B on the chart.)

Yesterday, a report on personal income and spending was released, showing an increase by 0.4% for income and 0.3% for spending in July. Both readings matched forecasts. June figures received positive revisions — 0.2% to 0.3% for income, and from 0.4% to 0.5% for spending. (Not shown on the chart.)

EUR/USD as of 2016-08-30

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One Response to “EUR/USD Down as Dollar Retains Strength”

  1. Hugh Kimura

    The EURUSD looks like it still has more to drop, maybe until the 1075 level. Too unpredictable for me at this point.