EURUSD tumbles down to 1.3945

Thursday, 8 September 2011 04:21

More inividuals filed for unemployment for the first time this weekas unemployment claims were just released in the United States.  Jobless claims rose from last week's 409,ooo to 414,000 while economists' expected the index to fall to 407,000 this week.

U.S Trade Balance was released at a dropped 44.8 billion, while prior released reported a trade balance of 51.6 billion.  However, 50.6 billion was the figure expected upon the release.

EURUSD tumbled downwards right around the time that the U.S Jobless claims came out.  At the same time, the president of the European Central Bank, Trichet, appeared for his monthly interview with the press.

Trichet mentioned that GDP for 2011 is seen at 1.4% to 1.8% compared to previous 1.5% to 2.3%; and also that inflation is likely to decline next year.

EURUSD was trading at 1.4045 before the release and the interview, and tumbled down as far as 1.3945; marking today's session low.