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US Manufacturing & Consumer Confidence Improves in February

February 22, 2011 by

EUR/USD slightly rose today after it declined at the beginning of the trading session. The improving US manufacturing and consumer confidence can limit the gains of the euro. EUR/USD trades now at 1.3697 after it dropped earlier as low as 1.3526.

S&P/Case-Shiller seasonally adjusted home price index declined from 142.75 in November to 142.16 in December. The index fell 2.4% on year-over-year basis. The median forecast for the change was 2.2%. (Event A on the chart.)

Richmond Fed manufacturing index rose to 25 in February from January’s reading of 18. Analysts expected the index to remain unchanged. (Event B on the chart.)

Consumer Confidence Index increased to 70.4 in February from 64.8 in January. The average forecast suggested a value of 65.1. (Event B on the chart.)

EURUSD for 2011-02-22

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