Increasing Prices Signal About Recovery in U.S., EUR/USD Falls
EUR/USD decline continues as a debt crisis in the European Union poses a question about survival of the common European currency. Import and export prices increased, signaling about the economic recovery. The signs of the recovery is also supported by a decreasing number of people claiming jobless benefits. Still, jobless claims decreased less than expected, causing some concern. EUR/USD trades near 1.2565 now.
Initial jobless claims posted the 444k figure in the week ending May 1 while a decrease to 440k was forecasted. Previous figure was revised to 448k from 444k.
U.S. import and export prices were released for April. Import prices grew 0.9% in April, following a revised 0.5 percent increase the previous month. That’s even better than a 0.8% growth suggested by forecasts. Export prices increased %1.2 percent in April, following a 0.7% increased in March.