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Reports from US are Good, Euro Manages to Outperform Dollar

September 9, 2010 by

EUR/USD was falling at the start of today’s trading session, but later surged. It now fluctuates, but retain its upward trend. Reports from US were good today, yet they may actually aid the euro more than the dollar, as they eased concerns for global economic recovery. EUR/USD trades currently near 1.2735.

US trade balance shrank to $42.8 billion in July from $49.8 billion in June. Forecast figure was $47.4 billion.

Initial jobless claims dropped from 478k (revised upwardly) to 451k last week. Job market looks better than estimated by analysts, who expected 470k unemployment claims.

Crude oil inventories decreased by 1.9 million barrels from the previous week. Total motor gasoline inventories decreased by 0.2 million.

Yesterday, a report on consumer credit was released. It showed a decrease by $3.6 billion.

If you have any comments on the recent EUR/USD action, please, reply using the form below.

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