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EUR/USD Resumes Rally

July 25, 2013 by

EUR/USD was rising yesterday, but ended the session with losses. The currency pair resumed its rally today even though European data was not particularly good. The US data was not completely positive either as unemployment claims rose. Meanwhile, durable goods orders showed robust growth.

Seasonally adjusted initial jobless claims were at 343k last week, somewhat above the previous week’s 336k and the forecast of 339k. (Event A on the chart.)

Durable goods orders rose 4.2% in June, beating the forecast of 1.1%. The May’s growth was at 3.7%. Excluding transportation, the most volatile component, new orders were little changed, while analysts have expected them to expand with the same 0.5% rate as in May. (Event A on the chart.)

EUR/USD for 2013-07-25

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