EUR/USD Goes Down on US Statistics and Global Pessimism

The dollar rose significantly against the euro today, as the poor macroeconomic statistics from the United States and the global risk-averting mood caused investors to seek safety in USD. Both rising business and consumer confidence in the United States failed to support the currency pair.
Personal income and spending report disappointed the investors today. The income fell by 0.1% in August, following +0.1% July change; the forecast was at 0.1% growth for it. The spending rose by 0.2%, as expected, but still worse than 0.7% in July. (Event A on the chart.)
Chicago PMI increased from 56.5 to 60.4 in September. A slight drop to 55.8 was forecasted by the traders. (Event B on the chart.)
University of Michigan consumer confidence index rose from 57.8 to 59.4 in the final revision for September. A small change to 57.9 was expected. (Event C on the chart.)


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