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EUR/USD Trims Losses After US Data Misses Projections

May 12, 2016 by

EUR/USD was falling during the current trading session but trimmed losses after the release of worse-than-expected macroeconomic indicators from the United States. The currency pair still trades below the opening level as of now but far above the daily low.

Initial jobless claims rose from 274k to 294k last week, exceeding the analysts’ median projection of 277k. It was the biggest number of unemployment claims since the end of February 2015. (Event A on the chart.)

Import and export prices increased in April. Import prices rose 0.3%, the same rate of increase as in March. Analysts had predicted bigger growth by 0.6%. Export prices edged up 0.5% in April following no change the month before. (Event A on the chart.)

EUR/USD as of 2016-05-12

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