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EUR/USD Update – Leading Indicators in U.S. Rose More Than Forecast in February



Good day forex traders and readers.

Just wanted to update on the current state of sentiments for the EUR/USD. The apparent hawkish comments from the US Federal Reserve has apparently risen the demand outlook for the US dollar. The EUR/USD is now below 1.38 which may open up further bearish possibilities.

As the American economy continues to improve, the prospect of further tapering and an interest hike will likely tip the market towards the US dollar. More on this during our weekly EUR/USD forecast. In the meanwhile find below an article from Bloomberg on US leading indicators.

The index of U.S. leading indicators rose more than forecast in February, a sign the world’s largest economy will strengthen after a weather-induced slowdown in the first quarter.

The Conference Board’s gauge of the outlook for the next three to six months climbed 0.5 percent, the biggest gain since November, after a revised 0.1 percent gain the prior month, the New York-based group said today. The median forecast of 49 economists surveyed by Bloomberg called for a 0.2 percent gain.

Job market growth, climbing home values and record-high stock prices are adding to household wealth, which will probably help boost Americans’ confidence. More consumer spending , which makes up about 70 percent of the economy, could make businesses willing to invest and hire.

“The general trend is still positive, and that’s consistent with a pickup in the overall economy,” Scott Brown , chief economist at Raymond James & Associates Inc. in St. Petersburg , Florida, said before the report. “We look for things to pick up.”

Estimates in the Bloomberg survey of economists ranged from an increase of 0.5 percent to a decline of 0.2 percent.

To contact the reporter on this story: Jeanna Smialek in Washington at jsmialek1@bloomberg.net

To contact the editor responsible for this story: Carlos Torres at ctorres2@bloomberg.net

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