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Dollar Declines on Poor Macro Reports

July 22, 2010 (Last updated on January 10, 2013) by

EUR/USD rose today above the yesterday’s open level as the macroeconomic reports from U.S. showed that the economy is recovering too slowly. Employment, housing and economic reports turned out to be negative today. The currency pair is now trading near 1.2920.

Initial jobless claims rose from 427k to 464k during the previous week. The expected growth was only to 445k.

Leading U.S. economic indicators decreased by 0.2% in June. This drop followed an increase by 0.5% a month earlier. Forecasts were at -0.3% for this indicator.

Existing home sales decreased by 5.1% from a seasonally adjust annual rate of 5.66 million to 5.37 million in June. It’s slightly better than the market participants have expected (5.1 million).

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

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