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EUR/USD Rises Ahead of Decision About Greek Bailout

February 17, 2012 by

EUR/USD rose today as traders hoped that European leaders will agree to provide aid to Greece on their meeting on February 20. The currency pair closed above its opening level, but was considerably below the intraday high. The US reports weren’t as good as analysts predicted, but they couldn’t be considered bad either.

CPI advanced 0.2% in in January on a seasonally adjusted basis, compared to the median forecast of 0.3%. The index registered no change in December. (Event A on the chart.)

Leading indicators increased 0.4% in January, following the 0.5% increase in December. That’s compared to analysts’ estimate of 0.6%. (Event B on the chart.)

EUR/USD for 2012-02-17

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