EUR/USD hit the lowest level in a month today. While economic data from the United States was a bit mixed, there was enough good news to propel the already strong dollar even higher.
Durable goods orders fell 0.5% in April, in line with analysts’ expectations. The March’s increase was revised from 4.0% to 5.1%. (Event A on the chart.)
In March, S&P/
Flash Markit services PMI fell from 57.4 to 56.4 in May, missing the consensus forecast of 57.0. Still, the indicator was far above the neutral 50.0 level, showing an expansion of the sector. (Event C on the chart.)
Richmond Fed manufacturing index rose from -3 to 1 in May, slightly exceeding the predicted level of 0. (Event D on the chart.)
Consumer confidence stood at 95.4 in May, somewhat above the forecast rate of 95.2 and rising from the negatively revised April’s level of 94.3. (Event D on the chart.)
New home sales advanced from the revised March’s level of 484k to the seasonally adjusted annual rate of 517k in April. Analysts’ predictions ahead of the report had been less optimistic, promising an increase just to 501k. (Event D on the chart.)
On Friday (May 22), a report on CPI was released, showing growth by 0.1% in April that matched forecasts but was a bit slower than the March’s 0.2%. (Not shown on the chart.)
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