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EUR/USD Rises as Housing Tumbles, Oil Inventories Go Up

August 25, 2010 by

The euro rose against the US dollar slightly today as the market participants reacted to the pessimistic macroeconomic reports. The currency pair was going up rather strongly during the day but then retreated on some risk-awareness doubts. EUR/USD is now trading near 1.2657.

Durable goods orders rose by 0.3% in US in July, following a drop by 0.1% a month earlier. The traders expected a much bigger growth of 3.0%.

New home sales fell from 315k to 276k in July, while the expected value was at 330k.

Crude oil inventories increased by 4.1 million barrels last week, while the total motor gasoline inventories gained 2.3 million barrels.

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

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