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EUR/USD Drops as China Spurs Risk Aversion

April 15, 2013 (Last updated on April 16, 2013) by

EUR/USD dropped today, but currently is attempting to rebound. China released its GDP report, showing than economic growth in the Asian nation was slower than anticipated by market participants. Such disappointment hurt the market sentiment. (Event A on the chart.) The US data did not help the matter as it also frustrated economists.

NY Empire State Index slid from 9.2 in March to 3.1 in April. The actual drop was bigger than the forecast 7.2. Reading above 0.0 still indicates growth. (Event B on the chart.)

Net foreign purchases dropped from $25.7 billion in January to -$17.8 in February. The forecast of $41.3 totally missed the real the actual data. (Event C on the chart.)

EUR/USD for 2013-04-15

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