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The EUR/USD dropped today after a speculation arose that a bailout are planned for Spain. This rumor was later dismissed, causing the euro to rebound, but now the European currency is heading down again. The data from the U.S. again showed mixed results. The industrial sector showed good performance, while a data from the housing markets was rather frustrating. EUR/USD trades now near 1.2304.
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he euro was crippled today after Moody’s Investors Service reduced Greece’s credit rating, but managed to recover and resumed its rally. The data from the U.S., released today, left mixed feelings, but James Bullard, the President of the Federal Reserve Bank of St Louis, reassured that “the macroeconomic recovery in the U.S. remains on track and may be complete in the third quarter”. EUR/USD rose currently to 1.2290.
N.Y. Empire State Manufacturing index rose to 19.6 in June from the previous reading of 19.1 in May. This figure below the forecasted 20.1.
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