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EUR/USD Trades Sideways, Positive US Data Pushes Lower

April 13, 2011 by

EUR/USD traded flat today without any major moves to either side, but the currency tends to weaken at present time. The reports today showed that the US economic recovery persists. EUR/USD currently trades at 1.4480.

Retail sales increased 0.4% in March, following the increase by 1.1% in February. Median forecast promised growth by 0.6%. (Event A on the chart.)

Business inventories rose 0.5% in February from January, when they increased by 1.0%. Analysts expected growth by 0.8%. (Event B on the chart.)

US crude oil inventories increased by 1.6 million barrels last week, while total motor gasoline inventories decreased by 7.0 million barrels. (Event C on the chart.)

EURUSD for 2011-04-13

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