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EUR Gains on USD as Europe Wants to Spur Growth

May 13, 2013 by

EUR/USD gained today on signs that European leaders are going to find new ways to boost economic growth of the eurozone. Previously, the euro was falling against the dollar as the positive data from the United States bolstered the greenback.

Retail sales rose 0.1% in April. The increase was small, but still it was better than the predicted drop of 0.3%. The March change was at -0.5%. (Event A on the chart.)

Business inventories were unchanged in March as well as in February. Analysts have expected an increase by 0.3%. (Event B on the chart.)

On Friday, a report on treasury budget was released, showing the surplus of $112.9 billion in April, compared to the forecast of $108.3 billion. The budget had the deficit of $106.5 billion in March.

EUR/USD for 2013-05-13

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