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EUR/USD Down on Good Reports from US, Bad Data from EU

September 23, 2010 (Last updated on January 10, 2013) by

EUR/USD currency slipped today as economic data from Europe suggested about struggling recovery, while reports from the US, including existing home sales and leading indicators, were encouraging. Number of unemployment claims unexpectedly increased, though. EUR/USD trades currently near 1.3332.

Initial jobless claims posted an increase from 453k to 465k last week, instead of an expected decline to 451k.

Existing home sales increased to a seasonally adjusted annual rate of 4.13 million in August from an upwardly revised 3.84 million in July. That was good improvement at the housing market and somewhat better than forecast 4.11 million.

Leading indicators index increased 0.3% in August, following a 0.1% increase in July. Forecasts promised an increase by 0.1%.

Yesterday, a report on US crude oil inventories was released, showing that inventories of crude increased by 1.0 million barrels and total motor gasoline inventories increased by 1.6 million barrels last week.

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