EURUSD is slightly falling and waiting for news from the Fed.
The major currency pair is slowly falling on Wednesday. Investors are saving strengths in anticipation of the Fed meeting results. The current quote for the instrument is 1.2070.
The statistics published yesterday showed that the HPI in the USA added 0.9% m/m in February against the expected reading of 1.0% m/m.
It’s quite interesting that the S&P/CS Composite-20 HPI, which covers the 20 biggest cities in the USA, skyrocketed by 11.9% y/y and that’s the highest reading over 15 years. Americans are obviously striving to buy new houses and real estate prices skyrocketed in the midst of low demand.
Significant improvement of the Consumer Confidence from Conference Board was also a pleasant surprise: it went from 109 points in March to 121.7 points in April, although market expectations implied 113.1 points, the current reading is the highest in the last 14 months. It seems like the population is becoming more optimistic when it comes to their incomes and savings. One of the reasons for that is the labor market improvement.
The Current Conditions reached this year’s high at 139.6 points, while the Economic Expectations rose to 109.8 points, which is also quite good.
The key highlight for today is the completion of the Fed meeting, so investors will focus their attention on it.