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EUR/USD Rises After Christmas

December 26, 2012 by

EUR/USD rose today after yesterday’s holiday, when markets were closed. The currency pair currently trimmed its gains though and shows tendency to decline. The data from the United States was mixed as the housing market continued to show signs of improvement, but manufacturing growth unexpectedly slowed this month.

S&P/Case-Shiller home price index rose from 143.18 in September to 114.12 in October. The annual growth was 4.3%, compared to the predicted 3.9%. The index rose 3.0% in September on a year-over-year basis. (Event A on the chart.)

Richmond Fed manufacturing index fell from 9 in November to 5 in December, frustrating analysts who have expected an increase to 12. (Event B on the chart.)

EUR/USD for 2012-12-26

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