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EUR/USD Attempts to Erase Today’s Losses

October 18, 2010 by

EUR/USD gradually rises after falling earlier today. It looks like the currency pair will be struggling to rise after such fast rally. EUR/USD trades now at 1.3948 after slumping previously to 1.3831.

Net foreign purchases of the long-term US securities was at $128.7 billion in October, above $61.2 billion reported for September and above the forecast value of $47.5 billion.

Industrial production decreased 0.2% in September after having increased 0.2% in August. The forecast change was a 0.3% increase. The capacity utilization rate for total industry went down to 74.7%, while market participants expected it to stay at the revised previous reading of 74.8%.

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

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