EUR/USD fell again today, although as was previously thought, that after a disappointing New Homes Sales report from the U.S.. Sales were expected to print at 380K and markets were confident that the forecast would be positive, instead the final report Showed only 373K.
Today, the release of the joint German, Finnish and Dutch statement on the ESM combined with news that Spanish GDP will be far lower than expected helped push EURUSD below 1.29. This was Followed by the release of disappointing Italian retail sales (falling -0.2% m / m and 3.2% y / y) and ongoing fears that Greece will fail to meet the Troika's demands, roomates Provided the catalyst for the final leg lower in EUR .
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