EUR/USD Trending Down

EUR/USD continued its downward movement today after falling yesterday. Data from the United States were worse than analysts predicted, but the dollar is still strong after it was boosted yesterday by the minutes of the Federal Reserve monetary meeting.
US current account deficit increased to $124.1 billion in the fourth quarter of 2011 from $107.6 billion in the third quarter. The expected value was $114.0 billion. (Event A on the chart.)
Export and import prices rose in February. Export prices advanced 0.4%, following the January increase by 0.2%. Import prices were 0.4%, compared to the average forecast of 0.6% and zero change in January. (Event A on the chart.)
Crude oil inventories, while total motor gasoline inventories decreased by 1.4 million barrels last week. Both are in the upper limit of the average range. (Event B on the chart.)

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