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US stocks fall despite data, Greenback recovers

FXStreet (Córdoba) - Equities in the US were falling modestly on Thursday while European markets finished lower. The FTSE 100 lost 0.36% while the Cac 40 declined 1.12%. The worst in Europe was the FTSE MIB that lost 2.03%. In Wall Street the Dow Jones was losing 0.16% still above 17,000 while the S&P 500 was at 1,998 dow 0.11%.

Economic data from the US surpassed expectations. Pending home sales rose 3.3% in July to the highest leve in 11 months; GDP growth from the second quarter was revised to the upside from 4% to 4.2% and initial jobless claims decline 1,000 to 298,000.

The US dollar gained momentum after the release of economic data. The EUR/USD bounced from weekly highs and retreated toward 1.3150 while the USD/JPY rebounded at 103.55 and rose to 103.80. Among commodity currencies, the US dollar was trading at the same price it closed yesterday.

Gold rose to the strongtes level in a week at $1,297/oz but then pulled back and was trading at $,1290. Crude oil was rising 0.50%, with the barrel above $94.00.

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