How EUR/USD Struggles to Prolong Rally Ahead of Yellen’s Speech

EUR/USD was trying to prolong yesterday’s rally but had problems with doing so as economic data released today from the United States was rather awesome. Now, traders twisted their concentration to the upcoming speech of Federal Reserve’s chief Janet Yellen as her remarks may change the point of view for the dollar.

S&P/Case-Shiller home price index had a rise by 5.7% in January (year-on-year), exactly as predictors had predicted and nearly at the same rate as in December (5.6%). Month-on-month, the index was slight changed (-0.02%). (Event A on the chart.)

Consumer confidence prevailed at 96.2 in March, far above the 93.9 level estimated by experts. On top of that, the February numeric value obtained a positive change from 92.2 to 94.0. (Event B on the chart.)

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Mike N

Financial Trading Systems Design Expert

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