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EUR/USD Higher on German Business Confidence & Spanish Bill Auction

December 20, 2011 by

EUR/USD jumped today after the German business climate unexpectedly improved this month (Event A on the chart) and the Spanish bill auction ended with a good outcome. Today’s report from the United States demonstrated an improvement in the housing market.

Both housing starts and building permits advanced in November. Housing starts were at a seasonally adjusted annual rate of 685k, compared to the revised October estimate of 627k. Building permits were at a seasonally adjusted annual rate of 681k, above the revised October reading of 644k. (Event B on the chart.)

A report was released on December 16, showing that CPI posted no change (0.0%) in November on a seasonally adjusted basis. That’s better than the October decline by 0.1%, but worse than the expectations of a 0.1% increase. (Not shown on the chart.)

EUR/USD for 2011-12-20

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

One Response to “EUR/USD Higher on German Business Confidence & Spanish Bill Auction”

  1. fibonachi

    Hi,
    in this day the currency pair was moved up with not bad news which were predicted by technical analysis too. But very often the currency move against news even really good news. How you will do you trade or which corrections you will make to take the profit?

    Reply

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