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EUR/USD Experience Volatility on Mixed Macroeconomic Data

June 25, 2010 by

The dollar were rising today against the euro as the traders don’t expect that the forthcoming G-20 meeting would provide the agreement about the measures to battle the European troubles, but now experiencing volatility after the report showed lesser than expected economic growth. Consumer sentiment continues to improve despite unfavorable macroeconomic data. EUR/USD currency pair trades now at 1.2301.

Final revision for the U.S. GDP in the first quarter of 2010 was released today showing a 2.7% increase. This figure may cause pessimism among traders, who expected that the growth would remain at the same level of 3.0%.

Michigan Consumer Sentiment index unexpectedly rose to 76.0 in June from 73.6 in May. Forex traders expected the index to remain on the same level.

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

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