EUR/USD Goes to Uptrend Despite Bad Outlook from U.S.

The dollar continued its decline against the European currency today even after the macroeconomic reports from U.S. showed a rather bad performance for the economy which is said to be the “first out” of the crisis. The traders are probably still inspired by the positive GDP reports from Germany and France. EUR/USD is now trading near 1.4291.
Initial jobless claims rose to 558k during laster week compared to 554k reported for a week before. They were expected to go down to 540k.
U.S. import prices decreased by 0.7% in July, while export prices fell by 0.3%. In the month of June corresponding changes were at +2.6% and +1.0%.
Advance retail sales report for July showed a decline by 0.1%, following 0.8% growth in June and the same forecast for July.
Business inventories dropped by 1.1% in June after falling by 1.0% in May. The analysts forecasted a 0.9% decline.

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