Forex Blog

First-hand Forex trading experience and information about foreign exchange market that will be useful to traders


Dollar Firms as Export and Import Prices, Retail Sales and Business Inventories Drop

November 14, 2008 by

EUR/USD declined today after rising above the week’s opening level yesterday as the dollar-bullish traders got help from the sale of the euro-denominated assets spurred by the worsening of the global macroeconomic situation. EUR/USD is currently trading near 1.2690.

The U.S. export prices fell by 1.9% in October, while the import prices decreased by 4.7% during the same period. This decline followed the 2-month drop and exceeded the analysts’ expectations.

Advance retail sales report showed a 2.8% decline in October, following 1.2% drop in September. The average forecast for the October retail sales was also 1.2% drop.

Business inventories were down by 0.2% in September after advancing by 0.3% in August. The market analysts expected that the business inventories will add 0.2% in September.

Leave a Reply

required (will not be published)