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EUR/USD Falls as PMI Slides

March 22, 2012 by

EUR/USD fell today as the preliminary measure of eurozone manufacturing and services performance declined this month more than was predicted by analysts. (Event A on the chart.) The US data, on the other hand, was better than anticipated, adding to attractiveness of the dollar.

Initial jobless claims were at the seasonally adjusted level of 348k last week. Analysts predicted that the claims would stay unchanged from the previous week’s figure of 353k. (Event B on the chart.)

Leading indicators rose 0.7% in February from January. The actual reading was slightly above the forecast value of 0.6% and also above the January change by 0.2% (revised from 0.4%). (Event C on the chart.)

EUR/USD for 2012-03-22

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