Euro Continues to Feel Pressure from ECB

EUR/USD extended yesterday’s drop today, falling to the lowest level since September 2003, as the euro continues to feel pressure from the yesterday’s drop of the European Central Bank. While the currency pair trimmed its losses as of now, it still trades below the opening level.
Existing home sales rose to the seasonally adjusted annual rate of 5.04 million in December from the downwardly revised 4.92 million in November. The median forecast promised an increase to 5.08 million. (Event A on the chart.)
Leading indicators edged up 0.5% in December, in line with market expectations. The November’s growth was revised negatively from 0.6% to 0.4%. (Event A on the chart.)


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