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EUR / USD started to decline before the report of consumer spending in the New York session, reaching a low of $ 1.2968. Oversold couple forced to retreat, recover the loss, and then it rose to highs after a report of Chicago PMI, which exceeded $ 50 but was below forecasts.
RBC also reduced the outlook for U.S. GDP in Q4 from 1.0% y / y to 0.2% on the back of weakening consumer spending in the 4th quarter and the impact of Hurricane Sandy. Market forecasters expected value of 1.7%.
Rally pair reached a session high of $ 1.3022, up 6 pips below the daily high of $ 1.3027. Investors spend the rest of the day, in response to news about the "fiscal cliff."
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