EUR/USD Trades Without Direction on Mixed US Data

The euro could not find any definite direction in trading versus the greenback today. After the daily share of US fundamental indicators for have been released, EUR/USD has drifted to the downside mostly, however, without trending really.
Chicago PMI fell from 66.4 to 65.4 in December instead of falling to 61.4 as market participants had expected.
Pending home sales declined by 0.7% in November after falling by 2.6% a month earlier. Analysts had expected a gain by 0.9% for this real estate sector indicator.
Crude oil inventories did not change during the week ending December 21 whereas a drop by 2.9 million barrels was a median forecast, that is after shrinking by 0.5 million barrels a week earlier. The inventories are current above the five year average for this time of year. Total motor gasoline inventories added 3 million barrels during the same period.

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

Leave a Reply

Your email address will not be published. Required fields are marked *