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EUR/USD Retreats on Speculations ECB May Ease Policy Again

May 9, 2013 by

EUR/USD declined today, following yesterday’s rally, as European Central Bank policy makers told that the central bank has ability to ease the monetary policy further. At the same time, many economists believe that the ECB will not refer to cutting interest rates again in the near future. US employment data again pleasantly surprised traders as unemployment claims unexpectedly fell.

Initial jobless claims fell from 327k to 323k last week instead of rising to 333k as was predicted by specialists. (Event A on the chart.)

Wholesale inventories expanded 0.4% in March, a bit more than forecasters have anticipated (0.3%). The inventories shrank 0.3% in February. (Event B on the chart.)

EUR/USD for 2013-05-09

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