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EUR/USD falls from 1.2830 to fresh lows below 1.2760

FXStreet (Córdoba) - Greenback was recovering ground in the currency market and accelerated after the release of US consumer confidence data. EUR/USD retreated further from 1.2835, broke below 1.2780 and bottomed at 1.2753, reaching a fresh daily low.

The University of Michigan/Reuters Consumer Confidence survey showed a surprise increase to 86.4 according to the flash estimate for October, above the 84.0 expected by analysts. “Recent stock market volatility may take some of the shine off sentiment by the time the final reading is out, but this is still a good reading, and supportive of robust consumer spending in the months ahead”, said Rob Carnell from ING.

EUR/USD currently trades at 1.2765, slightly lower for the day. Despite falling on Friday, the pair is still headed toward the second weekly gain in a row.

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