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31 Oct 2013
Session Recap: The Dollar says enough!
FXstreet.com (San Francisco) - The EUR/USD performed its biggest decline since February after collapsing 1.5 cents from 1.3755 to close the day at 1.3580. The Euro was hurt by a batch of negative economic data in the European Union while the USD enjoyed the situation the day after the Fed.
As FXstreet.com chief analyst Valeria Bednarik commented in a recent report, "the strong drop in EU inflation was probably the main cause of this slide ahead on next week ECB meeting and the possibility of a more accommodative ECB stance then." On the USD side, market digested upbeat US economic data as investors are thinking over the timing of the Federal Reserve tapering strategy.
The GBP/USD moved sideways for second day as the pair is keeping above the 1.6000 area. The USD/JPY declined on Thursday but overall the movement was consolidative as the pair maintained initial levels.
Main Headlines in the American Session
US: Initial Jobless Claims fell to 340K
US October Chicago PMI jumps to 65.9
Poll: Will the ECB cut rates, and when?
Wall Street closed Thursday with losses but logs an impressive October
As FXstreet.com chief analyst Valeria Bednarik commented in a recent report, "the strong drop in EU inflation was probably the main cause of this slide ahead on next week ECB meeting and the possibility of a more accommodative ECB stance then." On the USD side, market digested upbeat US economic data as investors are thinking over the timing of the Federal Reserve tapering strategy.
The GBP/USD moved sideways for second day as the pair is keeping above the 1.6000 area. The USD/JPY declined on Thursday but overall the movement was consolidative as the pair maintained initial levels.
Main Headlines in the American Session
US: Initial Jobless Claims fell to 340K
US October Chicago PMI jumps to 65.9
Poll: Will the ECB cut rates, and when?
Wall Street closed Thursday with losses but logs an impressive October