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EUR/USD Up on Signals of U.S. Economy Revival

June 11, 2009 by

EUR/USD went up today after the yesterday’s decline as the U.S. fundamental reports showed some optimism for the global economy revival and the traders favored yield more than risk. It’s now trading near 1.4043.

Retail sales were reported with a growth of 0.5% for the month of May; the April’s decline was revised up from -0.4% to -0.2%. The reported value was the same as in the forecasts.

Initial jobless claims were at 601k last week — down from 625k a week before. The market participants and analysts expected them to be reported at 615k.

Business inventories dropped by 1.1% in April after falling by 1.3% in March (revised down from 1% drop). Median forecast was at 1% decline.

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