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New Record on EUR/USD at 1.5526

March 12, 2008 (Last updated on September 17, 2010) by

The February Treasury budget deficit beat the last signs of life out of the fadollar today as the released numbers were far worse than the most pessimistic expectations of the economic strategists. The budget deficit was at $175,6 billion, while the forecasted value was at $170,0 billion. Last year February budget deficit was at $120,0 billion. That’s an astonishing $55 billion (45.8%) increase of the deficit in a year-to-year comparison.

EUR/USD hit its new record value on Forex today after the news on the budget were released. The currency pair started at 1.5341 today and reached the 1.5526 level soon after the release.

Crude oil inventories report for the last week added a little positive to the markets situation today, they increased by 6.2 million barrels compared with the previous week.

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