EUR/USD fell today as Greece and other indebted nations of European Union may be required to restructure their debt, but the currency pair currently recovers as the US economic data was worse than expected. The jobless claims unexpectedly rose last week, while PPI grew less than predicted. EUR/USD trades at 1.4425 now, recovering from the intraday low of 1.4364.
PPI rose 0.7% in March, seasonally adjusted, following the 1.6% increase in February. The report frustrated analysts, who expected a growth by 1.1%. (Event A on the chart.)
Initial jobless claims, seasonally adjusted, increased from 385k to 412k last week. That was unexpected as a decrease to 379k was promised by economists. (Event A on the chart.)
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