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EUR/USD Jumps as Weidmann Warns About Excessive Easing

December 27, 2013 (Last updated on January 6, 2014) by

EUR/USD jumped today after Jens Weidmann, President of the Deutsche Bundesbank and European Central Bank Governing Council member, said that low inflation is no excuse for the ECB to maintain interest rates too low. The currency pair is falling, but remains above the opening level right now.

Crude oil inventories decreased by 4.7 million barrels last week and are in the upper limit of the average range for this time of year. The decrease was bigger than predicted 1.9 million and previous week’s 2.9 million. Total motor gasoline inventories decreased by 0.6 million barrels and are in the upper half of the average range. (Event A on the chart.)

Yesterday, a report on initial jobless claims was released, showing a decrease from 380k to 338k last week. The median analysts’ forecast was at 346k. (Not show on the chart.)

EUR/USD for 2013-12-27

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