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EUR/USD Goes Up on Sing of Slower US Economic Growth

September 15, 2010 by

EUR/USD was trading sideways today after declining somewhat, but recently jumped as economic reports from the US was rather bad. Reports indicated that US economy is still growing, but pace of growth is constantly slowing. EUR/USD trades now at about 1.3017.

NY Empire State manufacturing index slipped to 4.1 in September from the previous value of 7.1, instead of rising to 8.7 as was predicted by analysts.

A report on export and import prices was released today, showing that import prices increased 0.6% in August, after rising 0.1% the previous month. Export prices rose 0.8% in August after declining 0.2% in July.

Industrial production expanded 0.2% in August, less than in July (0.6% revised downwardly from 1.0%) and below a predicted value of 0.3%. Capacity utilization rate also was below forecasts — 74.7% compared to promised 75.1%. In July it was 74.6%.

US crude oil inventories decreased by 2.5 million barrels from the previous week. Total motor gasoline inventories decreased by 0.7 million barrels last week.

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