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EUR/USD Goes Up Before Some Good U.S. Reports

April 5, 2010 by

EUR/USD went up slightly today, showing both upward and downward volatility before the U.S. fundamental reports hinted some continued improvement in the economy. After the reports were released, the currency pair retraced slightly from its higher intraday positions. EUR/USD is now trading near 1.3516.

Pending home sales index rose by by 8.2% to 97.6 in February after falling down by 7.8% in January. Now it’s 17.3% above the February 2009 level. Forecasts expected no change to this real estate indicator.

ISM services index rose from 53.0% to 55.4% in March, surpassing the forecasts of the Forex traders by 1.4%.

Last Friday a report on the U.S. nonfarm payrolls was released, showing a rather fast growth of 162k. Although it was below the median forecast of 184k, it was a very positive signal for the global economy. Last month’s change was -14k.

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

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