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Dollar Hits New 2010 Record High

February 4, 2010 by

The U.S. currency climbed again versus the euro even if reports published today in North America weren’t surprisingly optimistic, as the Eurozone economic struggle is the main factor moving the EUR/USD currency pair. The ECB made comments today mentioning the rising budget deficits in some nation’s using the single currency, forcing the euro to fall sharply versus the greenback. Currently EUR/USD is at 1.3783.

U.S. factory orders advanced 1.0% in December, another increase from the previous revised grow of 0.6% in November. Forecasts expected a rise of 0.7% in new orders.

Initial jobless claims were at 480k during the past week from a previous number of applications of 472k (revised). Forecasts, once again, expected less applications at 461k.

Nonfarm business productivity
preliminary numbers for 2009 last quarter were published today showing an increase at a 6.2% annual rate from a previous revised reading of 7.2%. Forecasts expected productivity growth to be at 5.7%.

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

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