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EUR/USD Loses Gains, Driven Down by US Data

EUR/USD rose today as the two-day meeting of the Federal Reserve started. The currency pair lost its gains, though, as basically all of today’s reports in the United State were good.

S&P/Case-Shiller home price index rose 5.7% in May, year-over-year. Analysts expected the same 5.8% rate of growth as in April. Month-on-month, the index was up 0.8%. (Event A on the chart.)

Richmond Fed manufacturing index rose to 14 in July from 11 in June (revised from 7). Experts predicted a reading of 7. (Event B on the chart.)

Consumer confidence climbed from 117.3 in June (revised down from 118.9) to 121.1 in July. Forecasters promised a drop to 116.5. (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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