Euro Fails to Appreciate Against Dollar
EUR/USD failed to go up significantly today and retreated even before reaching the Monday’s high level, as the fundamental indicators hinted a soon rate hike in the United States. The pair is currently trading near 1.3629 and it looks like the traders aren’t quite sure where to go now.
Retail sales unexpectedly rose by 1.6% in March after 0.5% increase in February. The forecasts pointed only at 1.2% growth. Such a fast improvement of the U.S. retail sector may become a very positive signal for the Fed and for the dollar.
Consumer price index (CPI) went up by 0.1% in March, following a zero change in February. It wen up in accordance with the median forecast.
Business inventories rose by 0.5% in February — faster than 0.2% growth in January and the expected 0.4% gain for February.
Crude oil inventories decreased by 2.2 million barrels last week. Total motor gasoline inventories decreased by 1.1 million barrels during the same period in U.S.