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EUR/USD Falls Slightly After Strong Rally

December 2, 2009 by

The EUR/USD currency pair remained stable during most of today’s session posting a slight decline after being bullish in the beginning of the week as concerns regarding Dubai’s debt decreased and China’s manufacturing figures set risk appetite strong among traders that opted for higher-yielding options in currencies markets. At the moment EUR/USD is declining swiftly and trading at 1.5079.

ADP unemployment rate posted a decline of 169k job places in November, a considerable improvement from the previous month reading were a decrease of 195k (revised) was perceived, but frustrating forecasts that expected a fall of 149k in the annually adjusted figures.

U.S. crude oil inventories increased by 2.1 million barrels from the previous week. At 339.9 million barrels, oil inventories in the U.S. are above the upper limit of the average range for this time of year. Total motor gasoline inventories increased by 4.0 million barrels last week.

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

One Response to “EUR/USD Falls Slightly After Strong Rally”

  1. Simon Koh

    Hopefully the US dollar will rebound in due time.


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