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US Economy Improves Less than Predicted, EUR/USD Goes Up

October 21, 2010 by

EUR/USD rose today as economic data from the US was less encouraging than expected. On the other hand, the data wasn’t very bad by itself: jobless claims decreased, manufacturing conditions improved a little and leading indicators rose. EUR/USD currently trades at about 1.4027 after it dropped to the intraday low of 1.3872.

Initial jobless claims went down from 475k (revised from 462k) to 452k last week. The actual value was near the forecast 454k.

Philadelphia Fed index increased from a reading of -0.7 in September to 1.0 in October. Analysts expected an increase to 2.3. A figure above 0.0 indicates improving conditions.

Leading indicators index for the US increased 0.3% in September, following a 0.1% increase in August. A growth by 0.4% was expected.

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

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