EUR/USD Falls on European Problem and Improved U.S. Housing
The dollar continued to rise versus the euro today as the European problems with Greece prove to be rather unresolvable in the near-term period. Meanwhile, some positive reports about the real estate market in United States spurred some confidence in the U.S. dollar. EUR/USD is now trading near 1.3514.
Housing starts rose from the annual seasonally-adjusted rate of 616k to 626k in March, better than the 610k forecast value. Building permits increased from 637k to 685k during the same month, exceeding the forecast of 625k.
University of Michigan consumer sentiment index decreased from 73.6 to 69.5 in April according to the preliminary report released today. It was expected to go up to 75.0.