EUR/USD Drops on Global Fears
The dollar strengthened against the euro today during the early Forex session as the investors become more afraid of the financial risks with the situation around Greece and Goldman Sachs. The pair traded with a volatility after the fundamental news on the U.S. crude oil reserves was released but didn’t show any momentum. EUR/USD is now trading near 1.3399.
Crude oil inventories gained 1.9 million barrels last week, while the total motor gasoline inventories increased by 3.6 million barrels during the same period (not without help from Eyjafjallajökull, I believe).
On Monday, a report on the U.S. leading indicators for March surprised the traders by showing a gain of 1.4% compared to the expected change of 1.1%. The index went up by 0.4% in February.