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EUR/USD Goes Up as Durable Goods Orders Fell Unexpectedly

July 28, 2010 by

EUR/USD was volatile today and rising currently after number of orders for durable goods unexpectedly fell in June. Inventories of crude surged significantly, also surprising market participants. EUR/USD trades currently near 1.3025.

Durable goods orders unexpectedly dropped by 1.0% in June, the second consecutive monthly decrease, following the decrease by 0.8% in May. This release frustrated traders, who expected a growth by 0.8%.

Crude oil inventories increased by 7.3 million barrels from the previous week. Total motor gasoline inventories increased by 0.1 million barrels last week, and are 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.

One Response to “EUR/USD Goes Up as Durable Goods Orders Fell Unexpectedly”

  1. Robert Australian Forex Trading Mentor

    Yes, euro going up… seems to be the usual case of the Euro doing the opposite to what everyone else is talking about.. months ago it was parity parity parity! all doom and gloom as nervous nellies were shouting about the fall in the Euro and look at it since. :)

    Reply

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