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EUR/USD Falls as Investors Question: Are Germany Committed to Help Europe?

March 29, 2012 by

EUR/USD fell today after it closed flat yesterday. Market participants were concerned if Germany’s commitment to boost the firewall against the crisis is sincere or it’s just a political “play” to attract more outside help. US unemployment claims were higher than was anticipated, frustrating traders. On the other hand, the US economy expanded last quarter faster than in the preceding three months.

Initial jobless claims were at the seasonally adjusted level of 359k last week, above analysts’ estimate of 351k. The previous week’s figure was revised upwardly from 348k to 364k. (Event A on the chart.)

US GDP stayed at 3.0% in the fourth quarter of 2011, according to the final estimate, unchanged from the preliminary estimate and in line with forecasts. The growth in the third quarter was 1.8%. (Event A on the chart.)

EUR/USD for 2012-03-29

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