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EUR/USD Continues to Rise Ahead of Year’s End

EUR/USD climbed today, maintaining its upward trend. US economic reports were mixed, but the good portion of the data barely slowed the rise of the currency pair.

Initial jobless claims were at the seasonally adjusted rate of 245k last week, unchanged from the previous week’s unrevised level. Experts had hoped for a small drop to 240k. (Event A on the chart.)

Chicago PMI climbed from 63.9 in November to 67.6 in December, ending the year at the highest level since March 2011. That was a compete opposite to analysts’ forecasts, which promised a decline to 62.2. (Event B on the chart.)

Crude oil inventories dropped by 4.6 million barrels last week, exceeding the median forecast of a drop by 3.9 million, but remained in the middle of the average range for this time of year. The stockpiles slumped by 6.5 million the week before. Total motor gasoline inventories rose by 0.6 million barrel and were above the upper limit of the average range. (Event C on the chart.)

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

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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