EUR/USD is falling for the third day today. Its currently in the red zone but the most of the daily fall is in the past — in a form of a rather long downward spike. Traders expressed almost no reaction to the todays U.S. fundamental news. EUR/USD is currently trading near 1.3229.
Wholesale inventories were down by 1.5% in February compared to Januarys level. A 0.7% decline was reported a month ago. Market participants expected a 0.6% decline today.
U.S. crude oil inventories gained 1.7 million barrels last week and are now well above the upper limit of the average range for this time of year. With the current rate of growth they will surpass 400 million barrels by the end of the year.
