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EUR/USD Falls on Good US Employment, Attempts to Rebound

March 30, 2011 by

EUR/USD fell after the report showed the strong growth of the US employment, yet now the currency pair attempts to regain ground. The ADP report not only increase optimism for the US economy, but also supported the positive outlook for the non-farm payrolls later this week. EUR/USD trades currently at about 1.4091 following the previous drop to 1.4051.

ADP employment increased by 201k from February to March on a seasonally adjusted basis. The actual value little differed from the forecast 205k and the previous value of 208k (revised down from 217k). (Event A on the chart.)

Crude oil inventories increased by 2.9 million barrels, while total motor gasoline inventories decreased by 2.7 million barrels last week. (Event B on the chart.)

EURUSD for 2011-03-30

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