In Line Rise in U.S. Consumer Confidence in Dec Provokes Temporary Decline in EUR/US

Consumer confidence in the United States increased in December, according to data released by the Conference Board on Tuesday. The indicator rose to a 52.9 level from the upwardly-revised read of 50.6 in November, which was reported at a 49.5 level in last month’s report. The rise was in line with economists’ expectations: the consensus call was for a 53.0 level. The greenback’s immediate reaction was to strengthen slightly: EUR/USD fell by 15 pips to $1.4413USD. However, within a few minutes the euro was paring its losses, and recently traded at $1.4426USD, just a couple of pips below its pre-release level.