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EUR/USD Declines for Third Day on Better than Expected Retail Sales

February 12, 2009 by

EUR/USD is currently showing a third daily decline and the second-largest daily drop since February 4 on the Forex market today as some macroeconomic reports in U.S. showed that the world’s largest economy isn’t that bad yet. EUR/USD is now trading near 1.2810.

Initial jobless claims were down from 631k (revised from 626k) to 623k last week, while economic strategists predicted 610k claims.

Retail sales were up by 1% in January in U.S. after falling by 2.7% in December. They were expected to fall by 0.3% last month.

Business inventories were down by 1.3% last December after falling by 0.7% in November — this result is worse than the forecast decline by 0.6%.

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