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USD Rises vs. Euro, But May Reverse Trend on Bad Reports

August 3, 2010 by

The USD slumped at the start of today’s Forex trading session, but later began gradually to rise. Unfavorable reports may reverse this trend, though. EUR/USD trades now at 1.3189.

Personal income and personal spending grew less than 0.1% in June. In May personal income increased by 0.3% (revised down from 0.4%), while personal spending rose by 0.1% (revised down from 0.2%). Analysts expected that income would rise by 0.2% and spending would grew by 0.1%.

Pending homes sales declined 2.6% to 75.7 in June, compared to the previous decline of 29.9%. Analysts’ were very unpleasantly surprised as they expected growth by 0.5%.

Factory orders declined in June more than expected, by 1.2%, compared to the forecast value of 0.2%. Decrease in the previous month was 1.8%.

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

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