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EUR/USD Climbs on Germany Growth, Trade Balance Deficit

November 13, 2009 by

EUR/USD had a mild advance today after losing sharply in yesterday’s session, as European quarterly growth figures were positive. The U.S. trade balance deteriorated even further from the past month, in a week marked by extreme volatility in the pair and lack of a consistent trend. EUR/USD is trading at 1.4873 from virtually the same level yesterday.

U.S. import and export prices for the month of October were released. Import prices grew 0.7%, down from 1.1% as forecast but posting a more expressive growth than in the month of September, when import prices grew 0.2%. Export prices rebounded growing 0.3% after a negative figure of 0.2% in September.

U.S. trade balance extended its deficit touching $36.5 billion in September from a previous reading of $30.8 billion in August, revised. The actual figures are considerably more negative than forecasts, which suggested a deficit of $31.8 billion, as imports rose faster than exports.

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