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EUR/USD Trades in Red After European GDP, Mixed U.S. Fundamentals

May 15, 2009 by

EUR/USD was trading below its opening level for the whole day today as the poor GDP data was released in Europe, but managed to go up a little from the daily lows after the mixed fundamental statistics went out in United States. It’s now trading near 1.3572.

Consumer Price Index (CPI) in its seasonally adjusted form remained unchanged in April after declining by 0.1% in March. The expectations of the traders were also at 0% change.

NY Empire State manufacturing index rose from -14.7 to -4.6 in May and that suggests that the conditions for the business are going to start improving quite soon. Before the release the index value was estimated at -12.

Net long-term purchases of the U.S. securities were at $55.8 billion in April, which is quite good if compared to the March’s $22 billion value and the forecast of $22.5 billion.

Industrial production continued to decrease in U.S. and fell by 0.5% in April after having fallen by 1.7% in March. The forecasts were even worse — at 0.6% decline. Industrial capacity utilization again decreased to its new historical low level — it fell from 69.4% to 69.1%, while the forecasts pointed at 68.8% value.

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