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EUR/USD Jumps on Poor European and Mediocre US Data

August 14, 2014 by

The euro managed to rise against the US dollar in two notable jumps — first, when the German GDP growth rate was reported at -0.2% for the second quarter of 2014 (preliminary report). (Event A on the chart.) Second, when the US numbers on export and import prices and on unemployment situation were released.

US import prices declined by 0.2% in July following 0.1% growth in May. The decline was expected by the market participants. Export prices did not change; they decreased by 0.4% in June. (Event B on the chart.)

Initial jobless claims rose from 289k to 311k during the previous week. The average forecast was at 307k. (Event B on the chart.)

EUR/USD as of 2014-08-14

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