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EUR/USD Slips Down with Unemployment Claims

August 11, 2011 by

EUR/USD was rising from the beginning of today’s trading session, but about 8:45 GMT it started decline that continues to the present time. The currency pair has got a small boost from the report that showed an increase of the US trade balance deficit, but the rally failed almost as soon as it started. Perhaps the positive jobless claims figure is responsible for such outcome.

US trade balance had a deficit of $53.1 billion in June. Traders hoped that the deficit would decrease to $47.9 billion, but it actually has increased from May value of $50.8 billion. (Event A on the chart.)

Initial jobless claims was at a seasonally adjusted level of 395k last week. That’s a decrease from the previous week’s reading of 402k (revised from 400k), while the claims were expected to remain almost at the same level, decreasing to only 401k. (Event A on the chart.)

EUR/USD for 2011-08-11

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