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USD Rises on Better Fundamentals

April 10, 2008 (Last updated on September 17, 2010) by

EUR/USD reached a new record high level at 1.5913 today, but after some positive fundamental data was released in U.S. the currency pair went down, as the dollar started to regain strength on the Forex market. ECB’s decision to hold the interest rates at 4% also improved dollar’s positions on the market.

Initial jobless claims unexpectedly fell by 53k the last week — from the revised 410k value to 357k. A fall to 383k has been expected by the market analysts.

February U.S. trade balance deficit came out to be far worse than the majority of the investors expected — $62.3 billion, up from January’s $58.2 billion. It was expected to go down to $57.4 billion.

Treasury budget deficit was lower than the expected $70.3 billion value in March. It was $48.1 billion — better than the last year’s $96.3 billion deficit for the same month.

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