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EUR/USD Extends Bearish Trend After US GDP

October 30, 2014 by

EUR/USD extended yesterday’s losses today after the release of a better-than-expected report on US gross domestic product. The currency pair is attempting to bounce right now and trades not far from the opening level.

GDP rose 3.5% in Q3 2014, according the advance estimate, exceeding the median forecast of 3.1%. The previous quarter’s increase was at 4.6%. (Event A on the chart.)

Initial jobless claims were at 287k last week (seasonally adjusted), a small increase from the previous week’s 284k. Forecasters expected no change. (Event A on the chart.)

EUR/USD for 2014-10-30

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