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Dollar Climbs on Mixed Data, ECB Statement

March 4, 2010 by

The EUR/USD currency had a change on its positive trend today despite a fall in the U.S. number of pending home sales, as factory orders rose in North America and mainly thanks to an ECB statement affirming that stimulus will last as long as they are necessary to help the region’s economy to increase its pace of recovery. EUR/USD is falling and currently trades at 1.3565.

Pending Home Sales, a forward-looking indicator based on contracts signed in January, fell 7.6% to 90.4 from a revised number of 97.8 in December. The actual figures came considerably below forecasts which expected an increase of 1.4% in pending home sales.

U.S. factory orders advanced 1.7% in January from a previous revised advance of 1.5% in December. Forecasts expected a less expressive advance of 1.4% for new orders.

Nonfarm business productivity was revised from 6.2% to 6.9% during the fourth quarter of 2009, while forecasts expected the rate to be at 6.2% like the previous report.

Initial jobless claims were at 469k last week from a previous revised data of 498k applications. Forecasts were near the correct number expecting 472k applications.

If you have any comments on the recent EUR/USD action, please, reply using the form below.

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