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EUR/USD Rises After Decline on Sentiment

September 14, 2010 by

The euro slid versus the dollar earlier as the confidence in Europe’s economy worsened but now returned to its opening level and continues to rise. There is not much data from the US today. Retail sales rose as was expected and business inventories unexpectedly surged. EUR/USD trades currently near 1.2897 after it slumped to 1.2829.

Retail sales rose 0.4% in August, just as forecasts promised. July growth was revised from 0.4% to 0.3%.

Business inventories were up 1.0% in July from June. Analysts expected advance of 0.5%, the same as in June (revised from 0.3%).

If you have any comments on the recent EUR/USD action, please, reply using the form below.

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