The EUR/USD Moves on Poor Data Originating from USA

The EUR/USD turns out perfectly well today and has restored firmly following a series of macroeconomic data originating from the United States. Almost all indicators have let down the dollar crap, adding firmness to the euro intervention in contrast to the greenback.

Durable goods orders increased only 0.8% in March according to the initial release by the US Census Bureau. That was much exceptional than the previous month’s decrease by 3.1% but significantly poor than the median prediction of 1.5% rise. (Event A on the chart.)

S&P/Case-Shiller home price ratio increased by 5.4% on annually basis in February. The rise follows 5.7% profit in January and is equivalent to 5.5% predict by the forecasters. (Event B on the chart.)

Markit services PMI flash release has displayed an increase to 52.1 in April. It rose up from 51.3 (revised positively from 51.0) that had been announced for March. It is a bit reduced than the median prediction of 52.3. (Event C on the chart.)

Consumer confidence buzzed in April, decreasing from 96.1 to 94.2. A reasonable drop to 95.8 had been predicted by the traders. (Event D on the chart.)

On Friday, Markit manufacturing PMI flash release indicated a decrease from 51.5 to 50.8 in April. It was extremely poor than the current prediction of 52.0. (Not shown on the chart.)

Yesterday, a new home sales release has indicated a slight decrease from 512k to 511k in March (seasonally adjusted annual rate.) An increase to 520k had been anticipated. (Not shown on the chart.)

The EUR USD Moves on Poor Data Originating from USA

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Mike N

Financial Trading Systems Design Expert

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