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Second Day of Gains of EUR/USD as Traders Hope for Better

June 28, 2011 by

EUR/USD jumped today for the second day as hopes for Greece supported the euro. The currency pair traded sideways in the first half of today’s trading session, but surged at the second half. The positive influence of the stabilizing manufacturing on the dollar was tempered by the negative impact of the declining consumer sentiment. EUR/USD trades now at 1.4361.

S&P/Case-Shiller home price index dropped from 141.05 in March to 140.93 in April. On year-on-year basis, the change in April was -3.9%, matching forecasts, near the March change of -3.7%. (Event A on the chart.)

Consumer confidence fell from 61.7 in May to 58.5 in June. Markets counted on drop to only 60.8. (Event B on the chart.)

Richmond Fed manufacturing index was at 3 in June, near estimates of economist that put the index at 2. The May figure was -6. (Event C on the chart.)

Yesterday, the report about personal income and spending was released, showing that income was almost unchanged in May, following the growth by 0.3% in April. Spending rose 0.3% last month, the same rate as in the month before. (Not shown on the chart.)

EURUSD for 2011-06-28

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