EUR/USD Drops Extraordinarily Fast, Fundamental News Don’t Change Anything

EUR/USD fell very deep today, mostly before any fundamental news from the U.S. were released, as the pessimism on the global stock markets mirrored itself onto the Forex market. The currency pair is now trading near 1.3311.
Personal income fell by 0.2% in February in U.S., following 0.2% growth in January (revised down from 0.4%) and coming out slightly worst than the forecasted 0.1% drop. Personal spending rose by 0.2% that month, following the same gain in January (revised down from 0.6%) and coming out also slightly worse than the expected 0.3% growth.
Michigan sentiment index in March was upwardly revised from the previous reading of 56.6 to 57.3, signaling some ground bottom in the recent fall of this index.

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