How Many More Days EUR/USD to Decline?

EUR/USD fell for the fourth day on the Forex market today and, although the decline is rather insignificant compared the last week’s drops, it’s still a fall that continues a technical bearish trend and has some strong fundamental reasons. The mixed economic reports coming from U.S. spur risk-awareness among the traders, giving more preference to the dollar. EUR/USD is now trading near 1.4141.
Productivity in the U.S. nonfarm business sector rose the annual seasonally adjusted rate of 6.4% in the second quarter of 2009. That’s better than 0.3% change in the first quarter and also better than the forecast for the second quarter — 5.5% growth.
Wholesale inventories surprised the global market bulls negatively today — they were down by 1.7% in June 2009, following 1.2% decline in May. Market participants expected a much lighter drop by 0.9%.

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