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EUR/USD Shows Spike on Consumer Confidence Decline

June 30, 2009 by

Dollar was losing against the euro during the first half of the trading session today but managed to regain it’s position after some important fundamental reports were released in United States. The negative values in the reports made traders to go for the «safer» dollar. EUR/USD is now trading near 1.4042.

S&P/Case-Shiller seasonally adjusted home price index for the 20 U.S. states declined by 18.1% in April compared to the last year, following 18.7% drop in March. The average forecast for this index yearly change was at -18.63%.

Consumer confidence unexpectedly dropped at a very fast pace — to 49.3 in June from 54.8 in May. It was expected to go up to 55.3.

Chicago PMI business barometer index rose from 34.9 to 39.9 in June. It exceeded the median forecast of 39 for this indicator.

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