Forecasts
Forex Guides
Members

EUR/USD Update – Dollar Rises After U.S. Jobless Claims Fall to Lowest Since 2007



Good day forex traders and readers.

Welcome to our EUR/USD update. As of now the currency pair continues to receive bearish pressure and is rather limited in its range. A number of factors are in consideration both beneficial to the euro currency, such as the positive economic data and the US dollar such as the risk aversion due to fears of the tapering of quantitative easing by the US Federal Reserve.

In the below report by Bloomberg, an improving job market brought about further speculation that tapering may begin soon and thus the strengthening US dollar. Read more about it below :

By Joseph Ciolli – 2013-08-15T14:34:49Z The dollar strengthened after claims for jobless benefits in the U.S. dropped last week to the lowest level in almost six years, spurring speculation the Federal Reserve will begin trimming its asset buying in September.

The greenback erased a loss versus the euro after the cost of living in the U.S. rose in July for a third month, supporting the Fed’s forecast that inflation will move closer to its target. New Zealand ’s dollar strengthened for a second day as manufacturing expanded at the fastest pace in nine years. The pound climbed to an eight-week high against the dollar after U.K. retail sales rose more than forecast.

“All the economic data we’ve seen today is clearly having a positive impact on the dollar,” Omer Esiner , chief market analyst in Washington at the currency brokerage Commonwealth Foreign Exchange Inc., said in a telephone interview. “It’s the type of data that cumulatively supports the idea of a September taper by the Fed.”

The Bloomberg U.S. Dollar Index appreciated 0.2 percent to 1,026.69 at 10:33 a.m. New York time after earlier rising 0.4 percent to 1,028.72, the strongest since Aug. 5.

The dollar gained 0.1 percent to $1.3236 per euro after weakening earlier as much as 0.4 percent. The U.S. currency fell 0.3 percent to 98.85 yen. Japan ’s currency added 0.5 percent to 129.49 per euro. Rupiah, Pound

The Indonesian rupiah fell to its weakest level in more than four years after the country’s central bank kept its reference rate on hold and a report showed foreign-exchange reserves fell to the lowest level since 2010. The currency depreciated 0.6 percent to 10,350 per dollar after earlier falling to 10,353, its lowest since June 2009.

Britain’s pound has strengthened 2.8 percent in the past month […]

Invest In Yourself And Get Premium Analysis
Less than 20 cents a day
Major Currency Pairs Analysis
Forex Sentiment Analysis
Understand The Market
10 days money back guarantee

View Subscription Options

Would you like to connect?
Get notifications on new forecasts and articles.

Sign up to our emailing list and get your FREE Stop Losing and Start Winning in Forex Checklist!

Trending Forex Articles

  • EUR/USD Gold CorrelationEUR/USD Update – Dollar Rises After U.S. Jobless Claims Fall to Lowest Since 2007
  • EUR/USD Update – Dollar Rises After U.S. Jobless Claims Fall to Lowest Since 2007
  • EUR/USD Update – Dollar Rises After U.S. Jobless Claims Fall to Lowest Since 2007
  • EUR/USD Update – Dollar Rises After U.S. Jobless Claims Fall to Lowest Since 2007
  • EUR/USD Update – Dollar Rises After U.S. Jobless Claims Fall to Lowest Since 2007
  • EUR/USD Update – Dollar Rises After U.S. Jobless Claims Fall to Lowest Since 2007
TheGeekKnows