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Dollar Rises vs. Euro on Employment & Services PMI

August 4, 2010 by

The dollar went up versus the euro today as reports from the US were better than expected. US employers added more jobs than experts predicted and services industry in the US expanded with accelerating pace. EUR/USD is currently trading at 1.3153.

ADP employment change report showed the 42k increase in July, which is better the previous report of 19k growth (revised from 13k) and the forecast 38k increase.

ISM services index was reported at 54.3% in July — up from 53.8% in June and above the median forecast of 53.2%.

Crude oil inventories decreased by 2.8 million barrels from the previous week. Total motor gasoline inventories increased by 0.7 million barrels last week, and are above the upper limit of the average range.

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

One Response to “Dollar Rises vs. Euro on Employment & Services PMI”

  1. Ron Finberg

    with the GBPUSD back above 1.5900, it looks like yesterday was a one hit wonder for the dollar. I guess it all comes down to tomorrow’s NFP results


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