Although, EUR/USD moved slightly above its opening level, this currency pair remained highly volatile today and reached a new minimum record since February 26 at 1.4815. The bullish spiked reached 1.4964 level. It failed to break above the 1.5000 resistance which may form a new psychological roof level for the next couple of weeks.
Trade balance deficit shrank in June as the exports grew significantly faster than imports. The deficit decreased to $56.8 billion — down from $59.2 billion in May and below the pessimistic $61.9 billion forecast.
Treasury budget report for June showed $50.7 billion surplus compared to $36.4 billion deficit in June 2007. Economic strategists expected the widening of the deficit to $86.8 billion.
