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EUR/USD Fluctuates on Uncertainty About Global Economy

August 24, 2011 by

EUR/USD fluctuated today as the global economy showed both good and bad signs, leaving traders unsure how to react. US durable goods orders turned out to be much better than expected last month putting pressure on the currency pair.

Durable goods orders rose 4.0% in July, almost two times higher than forecast 2.1%. The increase followed the decline in June that was revised from 2.1% to 1.3%. (Event A on the chart.)

Crude oil inventories decreased by 2.2 million barrels and total motor gasoline inventories increased by 1.4 million barrels last week. (Event B on the chart.)

EUR/USD for 2011-08-24

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One Response to “EUR/USD Fluctuates on Uncertainty About Global Economy”

  1. Jason Stapleton

    It’s mind numbing, waiting on this EURO to decide what it wants to do. Up and down. It’s painful. LOL