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EUR/USD Remains Bearish Despite U.S. Weak Data

January 28, 2010 by

The EUR/USD continued its losing streak today despite worse-than-expected data published in the United States. The dollar declined versus most of the main traded currencies but maintained the highest rate in 2010 versus the euro as the single currency continues to be under the influenced of pessimism in the Eurozone. EUR/USD currently trades at 1.3991.

Initial jobless claims were at 470k during the past week from a previous number of applications of 478k (revised). Forecasts expected less applications at 451k.

Durable goods orders
advanced 0.3% in December from a previous revised decline of 0.4% in November. Actual figures frustrated forecasts that expected an advance of 2.1% in orders.

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

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