EUR/USD went up today for a fifth day in a row after a strong weekly negative gap. The fundamental statistics that was released in U.S. today was extremely negative both for dollar and the global economy. EUR/USD now trades near 1.3003 after reaching as high as 1.3070 today.
NY Empire State manufacturing index fell to a new record low this March and is now at -38.2, below the Februarys -34.65 and the median estimate of -32.
Net long-term purchases of the U.S. securities were at -$43 billion in February after $34.7 billion reported for January. That means that the U. S. Treasury notes are no longer popular in the world and the U.S. dollar may lose a good portion of its support. Although the numbers are for February, they may still strongly influence the Forex market.
Industrial production decreased by 1.4% in February, following 1.9% drop in January and expectations of 1.2% decline. Industrial production went down from 71.9% to 70.9%, which is also worse than the expected decline to 71.1%.
