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EUR/USD Pares Losses

June 12, 2012 by

EUR/USD fell today, but erased its losses even though traders were pessimistic. US fundamentals were somewhat unfavorable, but not much worse than expected.

Export and import prices fell in May. Export prices were down 0.4%, while they grew at the same rate in April. Import prices fell 0.1% last month, matching forecasts. The April value was revise to zero change from a 0.5% drop. (Event A on the chart.)

US Treasury budget posted a deficit of $124.6 billion in May, compared to the average forecast of $112.7 billion. The budget had a surplus of $59.1 billion in April. (Event B on the chart.)

EUR/USD for 2012-06-13

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