EUR/USD fell today after a report showed that Spain entered a recession, but later the currency pair rebounded and traded in a wide range. Currently, the euro stays flat. The US economic data was somewhat worse than expected and definitely worse than the previous reports.
Personal income and spending increased in March. Income rose 0.4%, while analysts expected growth to stay at the same 0.3% as in February. Spending growth was 0.3%, slower that expected 0.4% and the February change of 0.9%. (Event A on the chart.)
Chicago PMI was at 56.2 in April. Forecasters expected it to fall from the March value of 62.2, but only to 60.9. (Event B on the chart.)
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