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US Jobless Claims Increases, EUR/USD Advances

January 13, 2011 by

EUR/USD continued its rally today on optimism about the auctions of the European debt. It looks like demand for bonds of the indebted nations of the European Union increased after China and Japan announced their plans to help Europe. US economic data was positive for the most part today, but labor market continues to disappoint traders. EUR/USD currently trades near 1.3265.

PPI rose 1.1% in December on a seasonally adjusted basis, while median forecast promised the same rate of growth as in in November — 0.8%.

US trade balance deficit decreased slightly to $38.3 billion in November, down from the revised reading of $38.4 billion in October, instead of increasing to $40.8 billion as was predicted.

Initial jobless claims increased to 445k on a seasonally adjusted basis from the previous week’s revised figure of 410k. The expected value was 405k.

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

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