EUR/USD Declines Despite Poor US Macroeconomic Data

EUR/USD declined today, though trimmed losses by the end of the trading session. The currency pair fell even as most US macroeconomic indicators released on Tuesday were disappointing.
S&P/Case-Shiller home price index rose 2.5% in April, year-over-year, in line with expectations. The index was up 2.6% the month before. Month-on-month, the indicator rose 0.8%. (Event A on the chart.)
Richmond Fed manufacturing index fell from 7 in May to 3 in June instead of rising to 7 as analysts had predicted. (Event A on the chart.)
Consumer confidence was at 121.5 in June, down from the downwardly revised May figure of 131.2 (134.1 before the revision). That is instead of rising to 132.0 as forecasts had promised. (Event A on the chart.)
New home sales were at the seasonally adjusted annual rate of 626k in May, below the forecast level of 686k. The April reading got a small positive revision from 673k to 679k. (Event B on the chart.)

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