The EUR/USD currency pair was rising considerably after falling yesterday but did not manage to sustain its near to $1.50 level as U.S. gross domestic product data declined significantly from the past quarter, bringing risk aversion back to markets and favoring refuge currencies, specially the yen. At the moment, EUR/USD is at 1.4941.
U.S. GDP figures increased at annualized rate of 2.8% according to the second estimate by the Bureau of Economic Analysis. A declined from the past reading at 3.5% but in a level that forecasts predicted correctly.
Richmond Fed manufacturing index decreased from October when it was at 7 to a current level in November of 1. Forecasts were frustrated as most of analysts suggested this index to be at 9 this month.
S&P/
Consumer confidence rose slightly to 49.5 in November from 48.7(revised) in October. Forecasts fail to predict a rise, suggesting this index to be at 47.3.
Existing home sales surprised traders positively yesterday posting a seasonally adjusted annual rate of 6.10 million, up from 5.54 million in the past month and more than forecasts suggested at 5.70 million.
If you have any comments on recent EUR/USD action, please, reply via the form below.
