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EUR/USD Goes Down on Very Positive TIC Flows

August 17, 2009 by

The U.S. dollar managed to rise against the euro today, showing even a greater gain than on Friday. The dollar bulls were inspired with a positive U.S. TIC flows report, which means that the United States is still quite a popular destination for the global investors. EUR/USD is now trading near 1.4066.

New York Empire State Manufacturing index went up to 12.1 in August up from -0.6 reported for a previous month. It was rather unexpected gain, considering a forecast value of about 3. The positive reading of this indicator implies that the industrial sector in the States is growing.

Net purchases of the long-term U.S. securities were at $90.7 billion in June after being as low as -$19.4 billion in May (revised positively from -$19.8 billion). Market analysts expected a value near $17.5 billion.

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