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EUR/USD Grows Little on Flat Pending Home Sales

September 9, 2008 by

EUR/USD traded today with a great deal of the intraday volatility — it managed to reach its almost two year minimum level at 1.4046 during the early Asian trading and post an upward spike later.After today’s portion of the U.S. macroeconomic statistics came out, the currency pair left its equilibrium point and rose a little. It is now trading close to 1.4126 level.

Pending home sales index fell 3.2% to 86.5 in July. This decline followed 5.8% increase in June (revised up from 5.3%). The estimated decline for July was at 1.3%.

Wholesale inventories continued to grow July — they gained 1.4% after 0.9% growth a month before. Average forecast for this indicator’s growth was 0.6%.

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