Wednesday, March 10, 2010

US wholesale inventories fall versus growth forecasts



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).

EUR/USD (Mar 10 at 15:22 GMT)

1.3631/34 (0.23%)

H 1.3633 L 1.354

S3S2S1R1R2R3
1.35331.35671.36011.36231.36571.3691
[?]Trend Index[?]OB/OS Index
Slightly BullishNeutral
Data updated on Mar 10 at 15:08 (15-minute timeframe)

[ View EUR/USD Technical Studies ]This article taken by FxStreet.com

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