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EUR/USD Ends Six -Day Decline

March 28, 2016 by

EUR/USD rose on Monday after six sessions of decline. Some analysts explain the change of movement by disappointing economic data from the United States, but in truth reports were not particularly bad, especially the one concerning the housing market.

Personal income and spending rose in February. Personal income rose 0.2% compared to the forecast 0.1%. Personal income rose 0.1% versus the predicted 0.2%. The January’s figures were 0.5% and 0.1% respectively. (Event A on the chart.)

Pending home sales climbed 3.5% in February to the highest level in seven months. That is compared to the forecast increase of 1.2%. The January’s change was revised from -2.5% to -3.0%. (Event A on the chart.)

On Friday, a report on US GDP was released, showing growth by 1.4% in Q4 2015 according to the third and final estimate. That is compared to the preliminary reading of 1.0% and the Q3 increase by 2.0%. (Event B on the chart.)

EUR/USD as of 2016-03-28

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