Monday, October 19, 2009

EUR/USD Down on Good U.S. News

After posting a clear doji candlestick yesterday, EUR/USD is now falling down despite the good fundamental reports from U.S. accompanied by the stock market growth there today. It’s a rather uncommon case for the dollar to gain with the good macroeconomic reports, but it looks like the traders are interpreting these positive factors as the signals that the U.S. interest rate will be raised soon. EUR/USD is now trading near 1.4238.

Durable goods orders increased by 4.9% in July after falling by 1.3% in June. Median forecasts by the market analysts pointed at 3% gain for the report.

Seasonally adjusted annual rate of the new home sales in U.S. went up from 395k to 433k in July. A further drop to 390k was expected by the traders.

Crude oil inventories increased by 0.2 million barrels last week, which is quite a insignificant change. Total motor gasoline inventories dropped by 0.7 million barrels during the same time.

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