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Dollar Down Against Euro on Zero CPI

August 14, 2009 by

EUR/USD declined today for the first day since Monday, despite an increase in the industrial production and the capacity utilization, the traders were disappointed in the CPI change value and sold the euro. EUR/USD is now trading near 1.4216.

Seasonally adjusted CPI rate remained unchanged in July after increasing by 0.7% in June. The forecasts also showed 0% change for the last month.

Industrial production increased by 0.5% in July, following 0.4% decline in June. The median forecast for this indicator was at 0.4%. Industrial capacity utilization went up from 68.0% to 68.5% — up from its historical lows. A gain to about 68.3% was expected.

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