U.S. GDP & Unemployment Value Worse Than Predicted – EUR/USD Rises
EUR/USD is going up after China declined the report that it’s reviewing its euro-denominated assets, improving an outlook for the euro, and after reports from U.S. showed worse results than was expected. Figures released today were below forecasts, suggesting that U.S. economy isn’t expand as fast as was expected. EUR/USD trades now near 1.2243.
Preliminary GDP increased at an annual rate of 3.0 percent in the first quarter of 2010. In the advance estimate, the increase in real GDP was 3.2 percent. In the fourth quarter, real GDP had increased 5.6 percent.
Initial jobless claims decreased to 460k from the previous week’s revised figure of 474,000. Forecasts promised decline to 450k.