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EUR/USD Extends Losses

December 19, 2014 by

EUR/USD continued to decline following the Wednesday’s monetary policy statement from the Federal Reserve. Falling US unemployment claims supported the dollar while the sharp drop of manufacturing index did not affect the currency much.

Initial jobless claims fell from 295k to 289k last week instead of rising to 297k last week. (Event A on the chart.)

Philadelphia Fed manufacturing index sank from 40.8 in November to 24.5 in December, even lower than the predicted figure of 26.3. (Event B on the chart.)

Consumer confidence rose 0.6% in November, at the same rate as in October and in line with expectations. (Event B on the chart.)

EUR/USD for 2014-12-18

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