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January Trade Balance Report Doesn’t Help Dollar vs. Euro

March 13, 2009 by

EUR/USD continued to grow for the fourth day today despite the better than expected U.S. trade balance deficit and the negative export/import price changes. EUR/USD is now trading near 1.2907 after reaching as high as 1.2956 earlier — the highest level since February 23.

Export prices fell by 0.1% in February in U.S. after increasing by 0.5% a month before. Average import prices went down by 0.2% last month that compares to 1.2% decline in January.

U.S. trade balance deficit decreased from $39.9 billion to $36 billion in January as the imports continued to fall faster than the exports. It was expected to decrease only to $38 billion.

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