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EUR/USD Breaks Through September Highs above 1.47

December 18, 2008 (Last updated on December 24, 2008) by

EUR/USD continued to go up today, posting the biggest weekly gain in its history — and it’s only Thursday today! The fundamental indicators from U.S. were mixed today, but the euro is probably still affected by the recent Fed interest rate cut. EUR/USD is currently trading near 1.4444 after reaching the highest level since September 25 at 1.4719.

Initial jobless claims declined last week from 575k (revised from 573k) to 554k — even better than the analysts expected (558k).

Leading indicators index decreased by 0.4% in November after 0.8% drop in October. The forecast for the last month was at -0.5%.

Philadelphia Fed index improved in December from -39.3 to -32.9, while the market analysts forecasted a decline to -40.

2 Responses to “EUR/USD Breaks Through September Highs above 1.47”

  1. Yohay

    Well, currently the dollar made a major comeback against all currencies, including the EUR/USD – around 1.43. It was shortlived…
    I’m anticipating the BOJ’s statement later on, to see if the Yen will begin retreating :)


  2. Hassam

    Euro is expected to fall more. Does it show a trend? Can currency options on EUR/USD be an investment choice?


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