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EUR/USD Posts Small Change for 3rd Day

July 23, 2009 (Last updated on January 10, 2013) by

EUR/USD rose slightly today, but again, just insignificantly, hovering slightly below the major resistance line. The lack of significant movement in the dollar-against-euro pair was accompanied by the increase of the initial jobless claims in the past week. EUR/USD is now trading near 1.4222.

Initial jobless claims were at 554k last week — that’s a 30k increase compared to the previous week’s 524k. The release came out to be almost exactly the same as the forecast value of 555k.

Existing home sales increased to 4.89 million annual rate in June, following the revised rate of 4.72 million in May and 4.83 million forecast for June.

As was reported yesterday, the U.S. crude oil inventories showed another declining week — -1.8 million barrels, while the motor gasoline inventories rose once again — by 0.8 million barrels.

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