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EUR/USD Climbs on US Budget Talks

September 25, 2013 by

EUR/USD climbed today on concerns that US budget talks will result in an impasse and a shutdown of the US federal government. US data was mostly in line with expectation during today’s trading session.

Durable goods orders rose 0.1% in August, in line with market expectations, following the 7.4% slump in July. (Event A on the chart.)

New home sales were at the seasonally adjusted annual rate of 421k in August, matching forecasts, up from the downwardly revised 390k in July. (Event B on the chart.)

Crude oil inventories increased by 2.6 million barrels last week, instead of falling by 1 million as was predicted, and are toward the upper range for this time of year. The stockpiles shrank by 4.4 million in the week before. Total motor gasoline inventories increased by 0.2 million barrels and are in the upper half of the average range. (Event C on the chart.)

EUR/USD for 2013-09-25

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