The Commerce Department revealed that the US gross domestic product marked a 3.0% yearly growth pace in the third quarter, fuelled by higher business investment, while consumer spending growth eased slightly as incomes were hurt by hurricanes.
Due to escalation of the Catalan crisis, demand for the yellow metal increased and the pair returned back to the weekly PP near 1,274.00.
Following ECB meeting, the pair entered into a red zone and has successfully travelled from the upper till the bottom trend-line of a dominant descending channel.
Due to ECB meeting, the Dollar appreciated against all major currencies, including the yellow metal yesterday.
Disappointing data on the US pending home sales caused little changes in the USD/JPY exchange rate.
The National Association of Realtors revealed that there was no change in the number of pending home sales in September.
According to Mario Draghi, the ECB decided to cut the asset purchase program to €30 billion/month but simultaneously extend it to another nine months.
Wednesday's trading session resulted in a breakout of the exchange rate from the falling wedge pattern.
Despite a release of positive data on the US Durable Goods Orders, the Euro continued to rally against the Dollar yesterday.
The Commerce Department showed that the US durable goods rose 2.2% for the month of September, owing to higher demand for transportation equipment.
The Commerce Department showed that the US durable goods rose 2.2% for the month of September, owing to higher demand for transportation equipment.
The yellow metal is trading against the buck in recently formed falling wedge formation.
After failing to break above the 100-hour SMA near 1.1780, the pair slipped back to the 55-hour SMA at the 1.1757 level.
The Dollar was dragged slightly against the Japanese Yen after the disappointing PMI reports for the US.
The preliminary PMI report for the US services and manufacturing sectors showed better-than-expected readings of 55.9 and 54.5, respectively.
After the continuation of the decline of the bullion's price a rebound occurred on Tuesday morning.
On Tuesday morning the common European currency was in a rebound against the US Dollar, which was about to stop.
The National Association of Realtors reported on Friday that the US existing home sales gained 0.7% to a seasonally adjusted yearly rate of 5.39M in September.
The National Association of Realtors reported on Friday that the US existing home sales gained 0.7% to a seasonally adjusted yearly rate of 5.39M in September.
In result of Shinzo Abe's confident victory, the Dollar strengthened against all major currencies, including the yellow metal.
In result of continuous tensions on the Iberian Peninsula, anticipation of the ECB meeting and conduction of two non-binding referendums on independence in Northern Italy, the Euro depreciated against the Dollar and slipped through all three moving averages.
The National Association of Realtors reported on Friday that the US existing home sales gained 0.7% to a seasonally adjusted yearly rate of 5.39M in September.
The National Association of Realtors reported on Friday that the US existing home sales gained 0.7% to a seasonally adjusted yearly rate of 5.39M in September.
Due to uneasy situation on the Iberian Peninsula, the yellow metal surged to the 1,290.50 level but then was forced to retreat by the 100- and 200-hour SMAs.