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EUR/USD Fails to Remain on Top

April 30, 2009 by

EUR/USD spiked up during the early trading session reaching as high as 1.3385 (the highest level since April 13) after opening at 1.3256 but after the fundamental reports in U.S. showed that the world’s biggest economy is stalling the currency pair rolled back below the daily open level. It’s now trading near 1.3244.

Initial jobless claims decreased from 345k (revised up from 340k) to 331k last week, which is slightly better than the previously expected 340k value.

Personal income fell by 0.3% in March, following 0.2% decline in February. It was expected to fall also by 0.2% this time. Personal spending decreased by 0.2% in March after rising by 0.4% in February (revised up from 0.2% growth). A decline by 0.1% was in the forecasts.

Chicago PMI Business Barometer index went up from 31.4 to 40.1 in April. According to the median forecast it should have increased only to 34.

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