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EUR/USD Still Grows Today

March 26, 2008 by

EUR/USD gained more than 100 pips today as it continued to grow on Forex before and after the fundamental news releases in U.S. Some of those releases were rather neutral, while one was particularly bad. Although EUR/USD descended from its historical maximums it is now starting to return to the bullish trend.

Durable goods orders in February dropped 1.7%, while a growth of about 0.8% was expected. It followed the 4.7% drop in January.

New home sales in U.S. were at 590,000 in February — they dropped compared to January’s revised value (601,000) , but were both above the expected 580,000 and above the unrevised January’s 588,000.

Crude oil inventories remained unchanged during the last week in U.S. The stagnation followed a very small positive change by 0.1 million barrels in previous week.

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