EUR/USD rose a little today as tensions about Cyprus eased. It is still early to think that problems are over, but for now traders are feeling themselves less adverse to risk. The US data was not particularly helpful to the market sentiment and the Chicago PMI and jobless claims came out worse than was expected. As a positive part of today’s data, US economic growth was near forecast.
Initial jobless claims rose to 357k last week, while they were expected to stay near the previous week’s 341k (revised from 336k). (Event A on the chart.)
US GDP rose 0.4% in the fourth quarter of 2012 according to the final revision. It is somewhat below the forecast of 0.5% and noticeable smaller than the third quarter’s 3.1% increase. Still, it is above the previous estimate of 0.1%. (Event A on the chart.)
Chicago PMI fell from 56.8 to 52.4 in March. It was expected to stay
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