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EUR/USD Declines as Debt Crisis Threatens Europe

November 15, 2010 by

EUR/USD extended its decline today as Europe remains plagued by fears of a sovereign-debt crisis. Reports from the US were mixed as retail sales grew more than expected, but manufacturing unexpectedly slumped. EUR/USD trades at 1.3591 now.

US retail sales posted an increase by 1.2% in October, according to advance estimates. Median forecast promised sales to stay at previous revised value of 0.7%.

NY Empire State Manufacturing index fell to -11.1 in November, which is a way lower than the expected reading of 13.9. The index was below zero for the first time since 2009. In October it was at 15.7.

Business inventories rose 0.9% in September, the same rate of growth as the revised rate in August. The inventories were expected to increase by 0.65%.

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

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