O/n slide reversed after probing the 38.2% of the 1.3365/1.3690 move at 1.3565 and only briefly penetrating the 100-day MA at 1.3575 with hugely o/s hourly studies in bullish divergence. Hourlies are a bit o/b now as the past two days" highs at 1.3680/90 come into view. Dailies are mostly bullish and not o/b yet. 1.3600/1.3720 key wide.
Finotec Analysis Team 30 August 2007
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Today's Economic Events
Time
Event
Currency
Period
Previous
Forecast
Significance
Actual
12:30
GDP Annualized q/q (r)
USD
3.4%
4.0%
4.0%
12:30
GDP Deflator Annualized q/q (r)
USD
2.7%
2.7%
2.7%
12:30
Core PCE Q2
USD
1.4%
1.4%
1.3%
12:30
Unemployment Claims
USD
Weekly
322K
322K
334
Measures the number of individuals who filed for unemployment insurance for the first time over the past week. A falling trend has a positive effect on the nation's currency. Working people tend to spend more, and consumer spending is a major driver of the economy. However, unemployment usually draws little attention because traders view it as a lagging indicator.
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