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EUR/USD Rises on Jobless Claims & Leading Indicators

February 17, 2011 by

EUR/USD advanced today for the second day as the unemployment claims rose and the leading indicators grew less than predicted in the US. On the bright side, the report about the business activity was very optimistic. The currency pair was slowly declining throughout the day, but began to rise after the reports. EUR/USD trades now at 1.3598.

Initial jobless claims increased to was 410k last week from the previous week’s revised figure of 385k. Forecast suggested value of 401k.

CPI increased 0.4% in January on a seasonally adjusted basis, while analysts expected a reading of 0.3%. The index grew 0.5% in December.

Philadelphia Fed index increased from 19.3 in January to 35.9 in February. The actual reading was much higher than 20.8 suggested by economists. The report was very optimistic about the future business activity.

Leading indicators index increased 0.1% in January, following a revised 0.8% increase in December. The report frustrated experts, who suggest a 0.3% growth.

EURUSD for 2011-02-17

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