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EUR/USD Falls on Risk Appetite Decline

November 19, 2009 by

The EUR/USD currency pair dropped significantly today after a considerable rise yesterday, in a week marked by high volatility so far. A negative day in stocks markets and a rising risk aversion brought investors back to dollar-priced assets, in a day were refuge currencies like the yen performed the best. A part from a better than expected Philadelphia Fed index, reports published in the U.S. had a insignificant influence in the currency pair. EUR/USD is currently trading at 1.4870.

Initial jobless claims remained at 505k last week, equaling the previous week numbers. Forecasts suggested a slight fall to 503k.

Philadelphia Fed index reached 16.7 in November from a previous reading of 11.5. A much better level than forecasts suggested at 12.3.

Leading indicators index increased 0.3% in October, following a 1.0% gain in September, but frustrating forecasts that indicated a rise of 0.5%.

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

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