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Dollar Deeps Further on Uneployment Rapid Growth

June 6, 2008 by

The  U. S. dollar dropped down today against as the unemployment rate soared in the U. S. Yesterday EUR/USD gained from the hawkish statement by Jean-Claude Trichet (he said that he will probably raise the interest rates on ECB’s next meeting), today it grows because of the poor U.S. fundamentals.

Nonfarm payrolls decreased by 49,000 in May — below the expected 60,000 dropdown, but above the revised April 28,000 loss in the jobs. Unemployment rate soared up from 5.0% a month ago to 5.5% in May; the market analysts predicted only a slight growth from 5.0% to 5.1%.

Wholesale inventories report for April showed a better dynamics — they rose 1.3% after 0.1% gain in March (revised up from -0.1%) and 0.4% growth estimate for April.

One Response to “Dollar Deeps Further on Uneployment Rapid Growth”

  1. mario

    Dollar keeps going down. 1.6000 on EURUSD soon.

    Reply

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