The U. S. dollar fell against the euro today as the consumer price index report showed a positive revision of the Aprils value and also a higher than expected value for May. EUR/USD is now trading near 1.3855.
CPI rose by 0.1% in May in the United States after remaining unchanged in Aprl (revised from -0.7% reported a month ago). The forecasts for May were averaged near 0.9% decline.
Current account balance deficit decreased to $101.5 billion in the first quarter of 2009 (preliminary value). Q4 2008 deficit was revised from $132.8 billion to $154.9 billion. Latest Q1 deficit is the lowest since the fourth quarter of 2001, but its still above the median forecast of $85 billion.
Crude oil inventories decreased by 3.9 million barrels last week after falling by 4.4 million barrels one week earlier.
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