EUR/USD Slows Rally

EUR/USD continued to rise today, though the pace of the rally slowed. In fact, the currency pair was falling in the first half of the trading session before bouncing back above the opening level. The dollar attempted to stage a rebound after data revealed an unexpected surge of the consumer confidence, by the attempt has failed.
S&P/Case-Shiller home price index rose 5.0% in July from a year ago, in line with expectations and at almost the same rate as in June (4.9%). Month-on-month, the index was up 0.6%. (Event A on the chart.)
Consumer confidence rose from 101.3 in August to 103.0 in September. The actual value was far better than 96.2 forecast by analysts. (Event B on the chart.)


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