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EUR/USD Rises Through the Day, Jumps on Consumer Confidence

September 25, 2012 by

The dollar was falling against the euro for almost whole day today. It managed to rebound following the favorable housing report from S&P/Case-Shiller, but the US consumer confidence release pushed the currency pair up again.

S&P/Case-Shiller home price index showed a monthly growth from 141.5 in June to 142.1 in July. The yearly growth of the seasonally-adjusted price index is 1.1%. (Event A on the chart.)

Consumer confidence soared from 61.3 to 70.3 in September. The August value was revised up from 60.6. A moderate growth to 63.1 was the median forecast for this sentiment indicator. (Event B on the chart.)

Richmond Fed Business Activity index advanced to 4 in September from the value of -9 reported in August. It is the first positive monthly value since May. The index was expected to rise only to -5. (Event B on the chart.)

EUR/USD as of 2012-09-25

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