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EUR/USD Down as Dollar Retains Strength

EUR/USD fell today as the dollar continued to be firm after hawkish comments from Federal Reserve officials. Economic data released from the United States at the start of the week was solid, supporting the view that the Fed will act soon, raising interest rates.

S&P/Case-Shiller home price index rose 5.1% in June (year-over-year), matching specialists’ expectations. The index climbed 1.7% month-on-month. (Event A on the chart.)

Consumer confidence climbed from 96.7 in July (revised down from 97.3) to 101.1 in August. The analysts’ median forecast had pointed at a lower value of 97.2. (Event B on the chart.)

Yesterday, a report on personal income and spending was released, showing an increase by 0.4% for income and 0.3% for spending in July. Both readings matched forecasts. June figures received positive revisions — 0.2% to 0.3% for income, and from 0.4% to 0.5% for spending. (Not shown on the chart.)

EURUSD-2016-08-30

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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