EUR/USD was weak today after macroeconomic releases from the eurozone. In particular, the eurozone economic growth slowed two times last quarter compared to the previous three months. (Event A on the chart.)

S&P/Case-Shiller home price index rose just 5.5% in August, year-on-year, whereas analysts had expected about the same 5.9% rate of growth as in July. Month-on-month, the index was basically unchanged. (Event B on the chart.)

Consumer confidence rose to 137.9 in October from 135.3 in September (negatively revised, 138.4 before the revision). The median forecast was at 136.3. (Event C on the chart.)

Yesterday, a report on personal income and spending was released, showing growth by 0.2% and 0.4% respectively in September. Analysts had predicted a 0.4% increase for both indicators. The August increase of 0.3% was revised to 0.4% for income and 0.5% for spending. Core PCE inflation was at 0.2%. That is compared to the median forecast of 0.1% and no change in the previous month. (Not shown on the chart.)

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Posted on Forex blog.

Original source: https://www.earnforex.com/blog/eur-usd-weak-after-eurozone-economic-growth-slows/

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