EUR/USD in Decline Before US Reports

EUR/USD began its decline shortly before the series of reports coming from the United States. For the most part of the day, the currency pair was trading in a rather narrow range. Although, the fundamental indicators released today were quite good, the euro started rising versus the US dollar after their release.
S&P/Case-Shiller home price index added 5.5% in October from the same month a year ago. September’s growth has been revised from 5.5% to 5.4%. Analysts expected a faster growth in October — 5.6%. (Event A on the chart.)
US consumer confidence demonstrated a growth to 96.5 in December — up from 92.6 reported for November (revised positively from 90.4.) A modest increase to 93.9 was forecasted. (Event B on the chart.)
Last week on Thursday, a report on initial jobless claims has shown a minor drop — from 272k to 267k. Analysts expected a decline to 270k. (Not shown on the chart.)


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