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Jobless Claims and PPI Rise, EUR/USD Still Down

May 14, 2009 by

EUR/USD continued to fall today despite the increase of the producer price index in United States. The number of jobless also grew but that’s actually a negative factor for the euro and good for the dollar. EUR/USD is now trading near 1.3560. Both up and down moves were detected during the trading session.

PPI went up by 0.3% (seasonally adjusted) in April after by 1.2% in March. Traders expected a 0.2% gain today.

Initial jobless claims rose from 605k to 637k last week. They were expected to go up only to 610k.

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