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EUR/USD on Upward Trend Unaltered by GDP Report

June 26, 2008 (Last updated on January 9, 2013) by

EUR/USD didn’t change from its upward trend today after the final Q1 GDP data was released. The currency pair continued to grow for a third day in a row and advanced today from 1.5664 to 1.5737 after the most important fundamental reports for today were released in U.S.

GDP in the first quarter of 2008 advanced at an annual rate of 1.0 percent — higher than 0.9 percent growth reported in the preliminary report and it has met the analysts’ expectations.

Initial jobless claims didn’t change last week — they remained at the revised value of 384k (revised up from 381k). They were expected to fall to 375k last week.

Existing home sales rose unexpectedly in May — to 4.99 million (annual rate) from April’s 4.89 million. They were expected to rise to 4.95 million.

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