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Euro Falls to April Low as Greek Budget Deficit Worsens

April 22, 2010 by

EUR/USD fell to it’s minimum level this month as the Greek budget deficit proved to be worse than expected while the fundamentals from U.S. supported the greenback. The currency pair is now trading near 1.3286 after hitting a daily bottom at 1.3276 today — the lowest level since March 26.

PPI rose faster than expected in United States, gaining 0.7% in March compared to 0.5% forecast. The gain followed a drop by 0.6% registered in February.

Initial jobless claims went down from 480k to 456k last week. Although, the decline is good for the U.S. economy the forecasts were more optimistic at a 450k value.

Existing home sales rose from the seasonally-adjusted annual rate of 5.01 million units to 5.35 million units in March. The traders expect a growth to 5.28 million units.

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

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