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EUR/USD Halts Rally as Jobless Claims Unexpectedly Plunge

September 12, 2013 by

EUR/USD ended its rally, falling for the first day in five, after US unemployment claims surprised market participants, plunging by a huge amount. Such data reinforced expectation of quantitative easing tampering from the Federal Reserve next week. The currency pair attempted to rebound, but is falling again right now.

Initial jobless claims decreased from 323k to 292k last week. It was a very surprising result, considering that analysts have expected an increase to 332k. (Event A on the chart.)

Import prices showed no change in August after rising 0.1% in July. Economists have hoped for 0.6% growth. Export prices declined 0.5% following the decrease by 0.1%. (Event A on the chart.)

US treasury budget deficit widened to $147.9 billion in August from $97.6 billion in July, but was still below the forecast of $155.3 billion. (Event B on the chart.)

EUR/USD for 2013-09-12

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