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EUR/USD Flat, Trades Near Record Since 2011

October 25, 2013 by

EUR/USD was flat today as news from both Europe and the United States was not particularly good. The US consumer sentiment worsened, while the German business climate index fell after five consecutive increases. The currency pair was still trading near the highest price since November 2011.

Durable goods orders rose 3.7% in September, exceeding traders’ expectations of 1.7% and the August growth of 0.2%. At the same time, the core component fell by 0.1%. (Event A on the chart.)

Michigan Sentiment Index fell from 77.5 in September to 73.2 in October, according to the revised estimate. The report frustrated market participants as it was far below the preliminary reading of 75.2 and the median forecast of 75.8. (Event B on the chart.)

Wholesale inventories were up 0.5% in August, outpacing the July rate of growth (0.2%) and the projected increase (0.3%). (Event B on the chart.)

EUR/USD for 2013-10-25

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