The euro climbed towards a 15-month high against the U.S. dollar on Thursday on estimations that the cwill be contained, and following disappointing U.S. economic data.
The dollar fell against most of its major currency counterparts today after a report showed that applications for jobless benefits rose by 27,000 in the week ended in April 9 to 412,000, well above expectations for 379,000 claims, said the Labor Department.
The EUR/USD recovered from a daily low of 1.4365, and reached as high as the 1.4500 level. The EUR/JPY cross followed the EUR/USD's movements and recovered from a daily low of 119.30 and is currently trading near the 121.00 level.
Looking ahead to tomorrow, traders are advised to follow the U.S. economic releases which include the Consumer Price Index, the Long-Term Purchases and the Preliminary Consumer Sentiment by the University of Michigan. The end result of these reports usually tends to have a large impact on the market, and a volatile trading session is likely to take place as result.
Source: http://www.forexyard.com
The dollar fell against most of its major currency counterparts today after a report showed that applications for jobless benefits rose by 27,000 in the week ended in April 9 to 412,000, well above expectations for 379,000 claims, said the Labor Department.
The EUR/USD recovered from a daily low of 1.4365, and reached as high as the 1.4500 level. The EUR/JPY cross followed the EUR/USD's movements and recovered from a daily low of 119.30 and is currently trading near the 121.00 level.
Looking ahead to tomorrow, traders are advised to follow the U.S. economic releases which include the Consumer Price Index, the Long-Term Purchases and the Preliminary Consumer Sentiment by the University of Michigan. The end result of these reports usually tends to have a large impact on the market, and a volatile trading session is likely to take place as result.
Source: http://www.forexyard.com
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