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EUR/USD Extends Decline as US Data Surprises Positively

EUR/USD fell today, extending yesterday’s decline. All of reports released in the United States today were good and exceeded market expectations. Now, traders wait for the revised estimate of US gross domestic product in the third quarter of 2017 due for release tomorrow. Experts anticipate an upward revision of growth from 3.0% to 3.3%.

S&P/Case-Shiller home price index rose 6.2% in September, above the analysts’ projection of 6.0% and the previous month’s increase of 5.8%. The index was up 0.4%, month-on-month. (Event A on the chart.)

Richmond Fed manufacturing index jumped from 12 to 30 in November, far above the reading of 14 predicted by analysts. (Event B on the chart.)

Consumer confidence climbed to 129.5 in November from 126.2 in October. That is instead of falling to 123.9 as experts had predicted. (Event B on the chart.)

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

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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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EUR/USD Drops After Release of Solid US Economic Reports

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EUR/USD dropped today as almost all reports released in the United States over the trading session were good. The signs that the voting for the final version of the US tax reform bill may happen as soon as the next week also drove the currency pair down.

Retail sales rose 0.8% in November, exceeding the median …

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