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Euro Down as Dollar is Sought After Bad Fundamental Reports

April 14, 2009 by

EUR/USD declined for the first time since Thursday today before the fundamental reports from the U.S. showed that the American economy is still quite weak and isn’t yet recovering from the recession. The currency pair is currently trading near 1.3265.

PPI (Producer Price Index) decreased by 1.2% in March, following 0.1% gain in February. The analysts expected it to remain unchanged last month.

Retail sales declined by 1.1% in March after growing by 0.3% in February. The forecasts showed 0.3% gain for the March.

Business inventories decreased by 1.3% in February, following the same decline in January and coincided accurately with the forecast.

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