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EUR/USD Falls for Second Day, Ignores US Data

EUR/USD fell today, declining for the second day, as the inconclusive outcome of the German federal election overshadowed falling US consumer confidence and home sales.

S&P/Case-Shiller home price index rose 5.8% in July, year-on-year, compared to the forecast of 5.7% and the previous month’s increase if 5.6%. Month-over-month, the index was up 0.7%. (Event A on the chart.)

Richmond Fed manufacturing index rose from 14 to 19 in September, whereas analysts were expecting the indicator to stay about the same. (Event B on the chart.)

Consumer confidence was at 119.8 in September, down from the downwardly revised August reading of 120.4 (122.9 before the revision). (Event B on the chart.)

New home sales were at the seasonally adjusted annual rate of 560k in August, down from 580k in July. That instead of rising to 585k as analysts had promised. (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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