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EUR/USD Flat, Waiting for FOMC Decision

October 27, 2015 by

EUR/USD was flat today as traders were reluctant to act ahead of tomorrow’s policy announcement from the Federal Reserve. The vast majority of analysts expect no change to the policy, but they hope that the Fed will hint whether it is going to act in December. Today’s data from the United State was mixed, offering little in helping the currency pair to determine its bias.

Durable goods orders fell 1.2% in September, in line with market expectations. The August’s drop was revised from 2.0% to 2.3%. (Event A on the chart.)

S&P/Case-Shiller home price index rose 5.1% in August, matching forecasts exactly, after rising 4.9% in July. Month-on-month, the index was up 0.4%. (Event B on the chart.)

Flash Markit services PMI eased from 55.1 in September to 54.4 in October while exerts had promised an increase to 55.3. (Event C on the chart.)

Richmond Fed manufacturing index was at -1 in October. Not a good reading by itself but still better than the predicted -3 and the previous month’s -5. (Event D on the chart.)

Consumer confidence dropped to 97.6 in October from 102.6 in September (negatively revised from 103.0). Analysts had predicted the index to stay basically unchanged. (Event D on the chart.)

EUR/USD for 2015-10-27

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