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EUR/USD Rises as US Data Worse Than Expected

March 16, 2012 by

EUR/USD jumped today, rising for the second day, as US macroeconomic fundamentals were worse than expected, leading to the speculation that the Federal Reserve will maintain stimulus.

CPI rose 0.4% in February, exactly like forecasters predicted. The January growth was 0.2%. (Event A on the chart.)

Industrial production registered no change in February, while it was expected to rise by 0.4%, like it did in January. Capacity utilization rate was 78.7%, near the forecast figure of 78.9% and the January value of 78.8%. (Event B on the chart.)

Michigan Sentiment index was at 74.3 in March, according to the preliminary estimate, falling from the February figure of 75.3 (revised from 72.5). The median forecast was 75.8. (Event C on the chart.)

EUR/USD for 2012-03-16

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