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EUR/USD Reverses Losses

September 27, 2013 by

EUR/USD reversed yesterday’s losses today even though Germany’s inflation stagnated. In the United States, personal income and spending continued to rise, while consumer sentiment worsened.

Both personal income and spending rose in August. Income was up 0.4%, below the forecast of 0.5%, but above the July increase of 0.2%. Spending grew 0.3%, matching predictions, following the 0.2% growth in the previous month. (Event A on the chart.)

Michigan Sentiment Index fell from 82.1 in August to 77.5 in September, according the revised estimated. The figure was above the preliminary reading of 76.8, but below the consensus forecast of 78.2. (Event B on the chart.)

EUR/USD for 2013-09-27

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