EUR/USD today continued going flat below 1.3700 mark unsure if Euro has enough power and U.S. economy has more holes to stop Bernanke from raising the rates before the Autumn comes. This day didn’t bring a lot of macroeconomic surprise to traders, but it had its important data.
Initial jobless claims for the previous week in United States increased by as little as 4k and came out at 307k — still lower than 310k predicted — that is, the employment market remains one of the steadiest part of the U.S. economy.
Factory orders in June rose by 0.6% which is far better than the May’s number of -0.5% decline, but slightly lower than predicted growth of 1.0%. I think that this indicator will just be a little slower second half of the 2007, staying positive to provide better total GDP numbers.