Dollar Down vs. Euro on Outlook for Poor US Economic Reports

The US dollar weakened today against the euro, trimming the previous gains on the concerns about Europe’s economy, as the analysts expect the reports today to show that the house price declined and the consumer confidence deteriorated in the US.

The analysts estimated that the Standard & Poor’s Case-Shiller House Price Index dropped from 4.2 percent to 3.1 percent in July. According to their predictions, the Conference Board consumer sentiment dropped from 53.5 to 52.5 in September.

EUR/USD traded at 1.3467 as of 11:56 GMT today after opening at 1.3455 and falling as low as 1.3381.

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