03, June 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

The U.S. dollar fell against major currencies on Thursday on weak U.S. economic data and technical passages at the end of the month.

The dollar index ICE fell to 83.680 on Wednesday and to  83.022 on Thursday.

WSJ Dollar Index indicator fell to 74.77 from 75.25.

The USA Initial Jobless Claims grew by 10.000 to 354.000, reported the Department of Labor on Thursday. Economists expected a growth by 1.000 to 345.000.

The U.S. economic growth was revised down to 2.4% (annual rate) from the initial 2.5% in the first quarter.

The traders are wondering when the Fed will begin lowering monthly purchases of assets by $85 billion. The dollar grew after Fed Chairman Ben Bernanke's statement that the Fed can low assets at "the next meeting." "Quantitative easing ", also known as an asset purchases, is seen as negative for the U.S. dollar.

We can expect the dollar volatility now.