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EUR/USD Rallies with U.S. Wholesale Inventories

April 9, 2010 by

EUR/USD went up significantly today on the background of the rising wholesale inventories in United States, but the main reason for the rally was probably in the Greece’s bailout expectation. The currency pair reached its highest level since Tuesday and is now trading near 1.3470.

Wholesale inventories continued to grow in February and increased by 0.6% during that month after a growth of 0.1% during January. The estimate of the wholesale inventories growth was at 0.4%.

Initial jobless claims were reported yesterday. They rose from 442k to 460k last week, while the forecasts were for a decline to 435k.

If you have any comments on the recent EUR/USD action, please, reply using the form below.

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