The U.S. dollar pared losses versus the euro today despite the negative numbers brought by a trade balance report published today, since the Greek crisis is still the factor defining market sentiment. The dollar fell yesterday on speculations that an EU summit to be held tomorrow would include a proposal to rescue Greece, but today, as these expectation faded out, the dollar returned to its bullish pattern. EUR/USD currently trades at 1.3734.
U.S. trade balance figures published today showed another monthly decrease in December with a deficit of $40.2 billion, from a previous report showing a deficit of $36.4 billion in November. Forecasts expected the trade balance to rebound with a deficit of $35.8 billion.
Wholesale inventories published yesterday decreased by -0.8% in December from a previous revised increase of 1.6% in November. Actual figures surprised traders positively since forecasts expected this report to post another increase of 0.5%.
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