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EUR/USD Advances as Concerns for Ireland Recedes

November 18, 2010 by

EUR/USD advanced for a second day today as talks that a bailout will allow to contain Ireland’s debt problems suppressed concerns somewhat. Today’s report from the US were generally in line with forecasts, except Philadelphia Fed index, which was much better than initially expected. EUR/USD trades now at 1.3607.

Initial jobless claims rose from 437k to 439k last week. They were expected to increase to 442k.

Philadelphia Fed index increased from a reading of 1.0 in October to 22.5 in November. It was far above a predicted value of 5.1.

Leading indicators index for the US increased 0.5% in October, following a 0.5% increase in September. Forecasts guessed the actual value.

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

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