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EUR/USD Recovers on Moderate US Data

September 29, 2014 by

The euro managed to rise today following a rather good report on the US income and spending growth and a moderately poor report on housing. The currency pair failed to rally, but is still showing a nice intraday uptrend.

Personal income and spending increased by 0.3% and 0.5% respectively in August. Income grew in line with the forecasts, spending increased slightly faster. Income rose by 0.2% in July, while spending fell by 0.1% that month. (Event A on the chart.)

US pending home sales fell by 1.0% in August. The drop followed a 3.3% growth in July and was bigger than the forecasted 0.5% decline. (Event B on the chart.)

EUR/USD - as of 2014-09-29

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