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Day of Economical Releases and EUR/USD Calming

July 17, 2007 (Last updated on November 30, 2009) by

EUR/USD calmed a little today, not reaching 1.3800 level, as the majority of traders expected some important data from U.S. statistics. Data came out mixed, but generally better for dollar than for Euro.Producer Price Index in June this year showed a slight decline (-0.2%), while consensus was at +0.1%. PPI excluding food & energy to he contrary increased by 0.3% (0.2% expected). For the stock market main surprise has been prepared by the U.S. Treasury — Net Foreign Purchases in May were $126.1 billion (against $80.3B expected). Industrial production growth for June (a very important component of GDP) came out at 0.5% and the Industrial Capacity Utilization was at 81.7% (81.4% expected). So what do we get today? Very good signs of economical growth — foreign investments and high productivity — one hand, and disappointing data on inflation on the other hand. More news to come this week, so get ready for some more surprises and try to get some pips when EUR/USD starts rolling again.

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