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EUR/USD Gains for Third Day Even as Fears Return to FX Market

April 26, 2012 by

EUR/USD rose today for the third day even as fears that other European countries would follow Greece in requesting a bailout returned to Forex market. US jobless claims remained stable, while pending home sales climbed to the two-year record.

Initial jobless claims were little changed at 388k last week from the previous week’s figure of 389k. Traders hoped that claims would drop to 374k. (Event A on the chart.)

Pending home sales grew 4.1% in March, beating market expectations of a 1.2% increase, and was at the highest level since April 2010. The February change was revised upwardly from -0.5% to 0.4%. (Event B on the chart.)

EUR/USD for 2012-04-26

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