The EUR/USD currency pair reached its maximum level since February 11th today before the report on the retail sales was released in U.S. It showed a better than expected value but the dollar gained and reached its daily high before the report has been made available to the public. EUR/USD showed some retracement after today’s fundamental releases. It’s now trading near 1.3760 after reaching as high as 1.3796 today.
Retail sales were 0.3% up in February compared with the previous month. This increase followed 0.1% gain in January and was much better than -0.2% forecast.
The University of Michigan released its preliminary consumer sentiment index for March. It fell from 73.6 to 72.5, whereas a growth to 74 was expected by the currency traders.
Business inventories stagnated in January, following 0.3% drop in December. The forecast by the analysts point at 0.2% change.
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