EUR/USD Reacts with a Fall to US-Positive News

The US dollar fell against the euro today following quite a nice report on the US housing market. The oil inventories report was not a good signal for the USD, but the main drop was undoubtedly caused by the new home sales report.
New home sales were at a seasonally-adjusted annual rate of 504k in August. It is a significant growth from 427k units (revised positively from 412k) reported for July and is also above the median forecast of 430k. (Event A on the chart.)
Crude oil inventories decreased by 4.3 million barrels last week after falling by 3.8 million barrels a week ago. The median forecast was a fall by 0.8 million barrels for this report. Total motor gasoline inventories fell by 0.4 million barrels following 1.6 million barrels decline a week earlier. (Event B on the chart.)
Yesterday, a report on Richmond Fed manufacturing index has shown a growth from 12 to 14 in September, while the market participants expected a decline to 10. (Not shown on the chart.)


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