US wholesale inventories fall versus growth forecasts
US wholesales inventories dropped 0.2% in January. The market had expected a 0.2% rise after December's 0.8% decrease.
The Wholesale Inventories released by the US Census Bureau captures sales and inventory statistics from the second stage of the manufacturing process. The sales figures do not move the market as they do not reflect personal consumption while wholesale inventories may change the aggregate inventory profile which can influence the GDP forecast. A high inventory suggests economic slowing in the US, that is seen as negative (or bearish) for the USD, whereas a low reading is seen as positive (or bullish).
The Wholesale Inventories released by the US Census Bureau captures sales and inventory statistics from the second stage of the manufacturing process. The sales figures do not move the market as they do not reflect personal consumption while wholesale inventories may change the aggregate inventory profile which can influence the GDP forecast. A high inventory suggests economic slowing in the US, that is seen as negative (or bearish) for the USD, whereas a low reading is seen as positive (or bullish).
EUR/USD (Mar 10 at 15:22 GMT)
1.3631/34 (0.23%)
H 1.3633 L 1.354
| S3 | S2 | S1 | R1 | R2 | R3 |
| 1.3533 | 1.3567 | 1.3601 | 1.3623 | 1.3657 | 1.3691 |
| [?]Trend Index | [?]OB/OS Index |
| Slightly Bullish | Neutral |
| Data updated on Mar 10 at 15:08 (15-minute timeframe) | |
