EUR/USD went up significantly today on the background of the rising wholesale inventories in United States, but the main reason for the rally was probably in the Greece’s bailout expectation. The currency pair reached its highest level since Tuesday and is now trading near 1.3470.
Wholesale inventories continued to grow in February and increased by 0.6% during that month after a growth of 0.1% during January. The estimate of the wholesale inventories growth was at 0.4%.
Initial jobless claims were reported yesterday. They rose from 442k to 460k last week, while the forecasts were for a decline to 435k.
Got to learn good updates on Euro here. Forex traders must be very careful while trading and they must keep themselves well updated with market movements to manage risk and returns in a better manner.
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