Dollar Loses to Euro After Disappointing US Data

The dollar slid against the euro today after the release of disappointing macroeconomic reports from the United States. While the housing data was encouraging, the consumer sentiment report disappointed economists. Meanwhile, the manufacturing index improved but still trailed expectations somewhat.
S&P/Case-Shiller home price index rose 5.0% in February from a year ago. The growth exceeded the median forecast of 4.7% and the January’s 4.5%. The index rose 0.5% on a monthly basis. (Event A on the chart.)
Richmond Fed manufacturing index improved from -8 in March to -3 in April, though it missed the forecast figure of -2 by a little bit. (Event B on the chart.)
Consumer confidence fell from 101.4 in March to 95.2 in April, frustrating market analysts who counted on an increase to 102.6. (Event B on the chart.)


If you have any comments on the recent EUR/USD action, please reply using the form below.