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EUR/USD Slows Down but Still Up After Consumer and Manufacturing Confidence Reports

March 31, 2009 by

EUR/USD rose today in a correction movement after three days of declining. Dollar was hurt by the unexpectedly revived interest in the stock markets and even the not-so-good reports released today couldn’t make euro to fall against it. EUR/USD is now trading near 1.3238.

Consumer confidence index rose from 25.3 to 26 in March — lower than the traders have expected (27).

Chicago PMI index went down from 34.2 to 31.4 in March — the lowest reading since July 1980. It was expected to go up to 34.7.

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