Dollar is still trying to hold its yesterday gains against euro, as it can benefit from the fundamental indicators released today in U.S. EUR/USD rose only from 1.5433 to 1.5449 today after losing more than 100 pips yesterday.
Productivity in the nonfarm business sector grew at 2.6% annually and seasonally adjusted rate in the first quarter of 2008 slightly better than the preliminary estimate (2.5%).
ISM services (non-manufacturing) index for month of May was released today showing a decrease from 52.0 to 51.7, while a forecast value for this index was 51.0.
Crude oil inventories were down 4.8 million barrels last week and are now in the lower half of the
average range for this time of year.
