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EUR/USD Falls as Manufacturing & Construction in US Expand

January 3, 2011 by Vladimir Vyun

EUR/USD currency pair declined today on concerns that debt problems would hamper attempts of governments and banks in the European Union to raise funds. There weren’t many economic from the US today, but the ones that were released showed positive tendencies in the economy. EUR/USD trades now at about 1.3319 after it dropped earlier as low as 1.3250.

ISM PMI continued to rise in December, posting an increase from 56.6% to 57.0, exactly as analysts forecast. This was the 17th consecutive monthly increase.

Construction spending in the US rose by 0.4% in November. The growth was bigger than 0.2% increase predicted by experts, but lower than 0.7% growth in November

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

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