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EUR/USD Rallies After European GDP Figures

EUR/USD gained today, getting support from GDP figures released in the eurozone during the current trading session. Among them, the report for the whole eurozone showed that the economic growth remained stable at 0.6%. (Event A on the chart.) US economic reports were good as well, making the currency pair give away some of its gains by now.

S&P/Case-Shiller home price index rose by 6.4% in November from a year ago. Analysts had expected the same 6.3% rate of growth as in October. Month-on-month, the index was up 0.3%. (Event B on the chart.)

Consumer confidence rose from 123.1 in December (revised up from 122.1) to 124.4 in January after declining in the previous month. Economists had expected the indicator to stay little changed. (Event C on the chart.)

Yesterday, a report on personal income and spending was released, showing that both indicators rose by 0.4% in September. The increase of spending in November was revised from 0.6% to 0.8%, while the gain in income remained without revision at 0.3%. (Not shown 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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