28, March 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

After the fall on Monday, the Euro was not easy to grow. The fall was due to traders’ fears that the situation in Cyprus could be repeated in other eurozone countries, where there are large bank deposits.

On European and American trading Euro declined and lost its position caused by the signing of an agreement with Cyprus. This situation was provoked by the comments Eurogroup chairman. He said that the imposition of large bank deposits in Cyprus can be repeated in other countries within the euro zone which have some difficulties. The U.S. dollar fell after the publication of the data on consumer confidence in the primary housing market of America.

The index of consumer confidence Conference Board fell to 59.7 in March from February's 68.0 mark. It was expected that the index will be 66.5 in March.

In another report, the level of sales in the primary market of America in February fell by 4.6% to 411,000 homes a year. This is the biggest drop in two years. According to economists, the decline should be realized up to 417 000 homes a year. Compared to the same period, but in the past year, sales rose 12.3%. Prior to that, the dollar showed no reaction to the data on durable goods orders in the U.S.. And these orders rose in February by 5.7%.