The U.S. dollar went down today after the set of the macroeconomic reports was released, which showed some rather unwelcome data, signaling that the U.S. economy expand at slower pace.
The unemployment claims unexpectedly surged to 472,000 in the previous week from 460,000 a week earlier, even though the forecasts promised a decrease of the jobless claims. Philadelphia Fed index decreased to 8.0 this month from 21.4 in May, suggesting that the U.S. economic rebound is slower than previously consider. Some other indicators, like the widening current account deficit and the falling consumer prices, subdued the dollar’s strength.
Despite some unfavorable results, the U.S. economy continues to expand. It’s just looks like its growth isn’t as fast and stable as was thought.
EUR/USD traded at about 1.2378 as of 22:05 GMT today after it opened at 1.2309. USD/JPY dropped to 90.91 from its opening price 91.43
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