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EUR/USD fails to take advantage of pretty tepid US data
Yesterday the economic data released from the US was mostly not that impressive. The one release that was markedly better was the latest Richmond Fed index (rose to -5 from -15). The rest was not great at all, especially durable goods and the nationwide consumer confidence index. However, dollar was unfazed by all that and the EUR/USD fell back into the US close (1.0844) and it has not yet bounced so far today. In fact it is close to session lows right now (1.0825). Granted, we are not talking about much in the way of any move here, but given the data, the Euro ought to have done better. The US treasury yields are also a little lower this morning and that has not had any impact thus far. The EUR/USD is presently trading at 1.0827
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