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US Fundamentals Break EUR/USD New Year Eve

December 31, 2019 by

The final day of the year saw EUR/USD rising until the release of the US macroeconomic indicators for today. Then, the rally broke with the pair going down and then entering a sideways market.

S&P/Case-Shiller home price index rose by 2.2% year-on-year in October, exceeding the median forecast of 2.1% and following the 2.1% growth registered in September. (Event A on the chart.)

Consumer confidence decreased slightly from 126.8 in November to 126.5 in October, while traders expected a rise to 128.0. (Event B on the chart.)

EUR/USD as of 2019-12-31

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