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Another Small Gain for EUR/USD After 3 Days of Growth

May 21, 2009 by

EUR/USD posted a small insignificant gain today as the market participants couldn’t sustain such a long bullish trend after three days of growth. Despite the fact that the economic indicators that come out in U.S. today were quite positive, EUR/USD is still trading only slightly above its open level. It’s now trading near 1.3774.

Initial jobless claims were at 631k last week after 643k reported for the previous week. Traders expected a decline to 625k claims.

Philadelphia Fed business activity index rose from -24.4 to -22.6 in May, but that’s worse than the average forecasts predicted — -18.

U.S. leading economic indicators gained 1% in April after decreasing by 0.2% in March. The report was also better than the forecast — 0.8%.

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