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EUR/USD at October Levels as Retail Sales Rise

December 11, 2009 by

The EUR/USD currency pair dropped to the lowest levels since early October today as the fundamental indicators in U.S. showed that the country is performing better than the traders and the investors expected previously. Although the Wall Street is trading quite mixed, the dollar is performing well against everything on Forex. EUR/USD is now trading near 1.4606.

U.S. export and import prices increased by 0.8% and 1.7% respectively in November. This price growth surpassed the last month’s gains by 0.2% and 0.8% respectively.

Retail sales report was a real surprise today — the sales increased by 1.3% in November after rising by 1.1% in October (revised down from 1.4%), while the median forecast for this indicator pointed at only 0.6% growth. It looks like the consumers are becoming more willing to spend as they feel that the crisis is over.

Business inventories rose by 0.2% in October, following 0.5% drop in September (revised from 0.4% drop) and 0.2% drop forecast for October.

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

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