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EUR/USD Rises After Reaching New Low in a Year

April 23, 2010 by

EUR/USD continued its fall today during the early Forex trading session but then managed to go up above the opening level as Greece adopted a bail-out plan offered by the European Union. Fundamental reports were mixed today, with a huge surprise from the U.S. real estate market. The currency pair is now trading near 1.3308 after going down to as low as 1.3201 — the lowest level since April 2009.

Durable goods orders unexpectedly declined by 1.3% in March, following 1.1% growth a month earlier and the positive 0.2% change forecast. This is quite a bad signal for the manufacturing sector of the U.S. economy.

New home sales hit the sky according to the March report. They rose from seasonally-adjusted annual rate of 324k (also positively revised) to 411k or 21.1%. The forecast growth was at 4.6% (or to 322k).

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

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