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EUR/USD Up Before Major Releases Are Out Today

July 26, 2011 by

The euro gained against the US dollar before the macroeconomic reports of today were released in the United States. Its gain can be connected to the US public debt ceiling debates. Following today’s fundamental releases, the dollar managed to regain some of the losses. EUR/USD is currently trading near 1.4468.

S&P Case Shiller home price index for the US top 20 cities fell from 141.02 to 140.95 in May — down 4.49% from May 2010 level of 147.58. The decline followed the markets’ expectations and hardly influenced the Forex trading. (Event A on the chart.)

Consumer confidence rose from 57.6 (revised negatively from 58.5) to 59.5 in July. A decline to 56.0 was expected by the market analysis. (Event B on the chart.)

New home sales dropped from 315,000 (revised negatively from 319,000) to 312,000 in June. They were expected to rise to 320,000 that month. (Event B on the chart.)

Richmond Fed manufacturing index decreased from 3 to -1 in July. The traders were awaiting a growth to 5. (Event B on the chart.)

EUR/USD as of 2011-07-26

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

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