EUR/USD is currently showing a perfect Doji candlestick patter on the chart as the traders reacted to the improved trade balance deficit of the United States. Meanwhile, the jobless claims remained near the same level as a week before, leaving the Forex traders no real guidance for the
Trade balance deficit decreased from $39.9 billion to $37.3 billion, as the imports fell faster than the exports. Markets expected a worsening of the deficit to $41 billion.
Initial jobless claims decreased from 468k (revised positively from 469k) to 462k in the last week. The expected decline was to 460k claims.
Other three important macroeconomic reports were released in U.S. yesterday:
Crude oil inventories rose by 1.7 million barrels during the previous week, while the total motor gasoline inventories decreased by 2.9 million barrels. Whereas a week earlier they both rose by 4.0 and 0.8 million barrels respectively.
U.S. treasury budget deficit soared to $220.9 billion in February — worse than $193.9 billion deficit during the same month a year ago. The forecasted value was at $222.0 billion, which was quite close.
Wholesale inventories declined by by 0.2% in January, following 1% drop in December 2009. The market participants expected a rise by 0.2% for this indicator.
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