The dollar fell against the euro before the disappointing US GDP growth data was released today. The currency pair was in a decline for 2 hours immediately before the release but regained its growth afterwards. Other fundamental releases didn’t have much influence on EUR/USD today. It is now trading near 1.4815.
GDP increased by 1.8% (annualized) in the first quarter of 2011 according to the advance report. It followed 3.1% growth in the fourth quarter. The forecast was for 2.0% growth. (Event A on the chart.)
Initial jobless claims were at 429k last week, up from 404k recorded during the previous week and above the forecast value 395k. (Event A on the chart.)
Pending home sales rose by 5.1% in the United States in April, following a small increase of 0.7% in March and more than three times higher than the average analysts’ forecast of 1.5% for this month. (Event B on the chart.)
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