The dollar was losing strongly during the early trading session today but failed to fall past its support and euros resistance level located near 1.3720, as the U.S. reported decline in its global trade and traders shunned the
U.S. trade balance report for March showed an increase from $26.1 billion to $27.6 billion deficit today as the exports fell faster than the imports in U.S. The average forecasts pointed at about $29 billion deficit report.
Treasury budget report for April revealed $20.9 billion deficit, which followed $191.6 billion deficit in March (revised negatively from $159.3 billion). The budget deficit came out to be quite the same as the market participants expected.
