EUR/USD Trades in the Undecided Mood for Second Day

It looks like EUR/USD can’t really decide where to go next — the second consecutive day is marked with almost zero change with a slight advantage for the European currency. The final data on Q3 GDP along with some other macroeconomic reports didn’t surprise the traders enough to affect the Forex market today. EUR/USD is currently trading near 1.3971.
The Gross Domestic Product decline of 0.5% in the third quarter of 2008 remained unchanged in the final report by the Bureau of Economic Analysis. That was an expected result.
Existing home sales declined by 8.6% in November to the seasonally adjusted annual rate of 4.49 million — that’s significantly below the expected rate of 4.93 million.
Michigan Sentiment index rose from 55.3 in November to 60.1 in December — faster than the analysts forecast (58.6).
New home sales decreased in November — to the seasonally adjusted annual rate of 407k — down from 419k in October (revised from 433k). The median forecast value was at 420k.

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