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EUR/USD Growth Chokes

November 12, 2009 (Last updated on September 17, 2010) by

The dollar regained its power on the Forex market today as the euro declined in correction, pressed on by the technical and fundamental factors. Even the rather growth-favoring macroeconomic reports that were released today failed to help the euro. EUR/USD is currently trading near 1.4864.

Initial jobless claims continued to decrease last week and were down from 512k to 502k. The expected number of claims was at 510k.

Crude oil inventories increased by 1.8 million barrels. Total motor gasoline inventories increased by 2.7 million barrels during the same time period.

U.S. Treasury Budget report showed a deficit of $176.4 billion in October 2009. This deficit was bigger than the median forecast of analysts — $160 billion. Deficit was at $155.5 billion in October 2008.

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

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