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EUR/USD Hangs Above Opening

December 27, 2011 by

EUR/USD was rising today, stalled, then sharply dropped, and currently trades sideways, remaining above the opening level. The gains aren’t big, though. The report about the US housing market wasn’t good, but manufacturing and consumer sentiment showed signs of improvement.

Seasonally adjusted S&P/Case-Shiller home price index fell to 138.53 in October from 139.42 in September. The index declined 3.4% from a year ago. (Event A on the chart.)

Richmond Fed manufacturing index edged up to 3 in December from 0 in November, while market participants hoped for an increase to at least 6. (Event B on the chart.)

Consumer confidence improved to 64.5 in December from 55.2 in November (revised from 56.0). The expected figure was 58.5. (Event B on the chart.)

EUR/USD for 2011-12-27

If you have any comments on the recent EUR/USD action, please reply using the form below.

One Response to “EUR/USD Hangs Above Opening”

  1. Expert

    this is a seasonal trend

    Reply

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