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EUR/USD Pares Decline with Help of Weak US Data

June 12, 2014 by

EUR/USD rose today, paring its four-day decline, as data from the United States was mostly bad, including the unexpected increase of jobless claims and weaker-than-expected growth of retail sales.

Retail sales grew 0.3% in May, while market participants thought that they would increase at the April’s rate of 0.5%. (Event A on the chart.)

Initial jobless claims rose from 313k to 317k last week instead of falling to 306k as was predicted by analysts. (Event A on the chart.)

Both import and export prices rose 0.1% in May, in line with expectations. Import prices fell 0.5% in April, while export prices were down 1.0%. (Event A on the chart.)

Business inventories grew 0.6% in April, while traders believed that the inventories would maintain the same 0.4% rate of growth as in March. (Event B on the chart.)

EUR/USD for 2014-06-12

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