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EUR/USD Fluctuates on Greek Debt, U.S. Data

January 6, 2010 by

The EUR/USD currency pair started the day bearish as Greece’s financial situation once again raised concerns about some of the Eurozone member’s credit ratings, declining attractiveness for the European single currency. U.S. data published today did not impact intensively the outlook for the greenback, as data came slightly disappointing, but within estimates. Currently, EUR/USD trades at 1.4375.

ADP employment report indicated a decline of 84k workplaces in December, frustrating forecasts that expected a less significant number of job losses at 74k, but showing a significant improvement from November’s revised reading of -145k jobs.

ISM non-manufacturing index rose to 50.1 in December from a previous reading of 48.7 in November. An improvement that came less intense than forecasts suggested at 50.5.

U.S. crude oil inventories increased by 1.3 million barrels from the previous week, they remained above the upper limit of the average range for this time of year. Total motor gasoline inventories increased by 3.7 million barrels last week, and are also above the upper limit of the average range.

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

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