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FXstreet.com (Sydney) - The EUR had a mixed session, first falling against the dollar and then recovering to be trading at 1.3732. The pair had earlier opened on 1.3737 but had been as low as 1.3727. The EUR/USD finds support at 1.3697 and resistance is at 1.3777. The pair is considered slightly bullish.
The USD gained on the euro as the latest US deficit unexpectedly blew out to $40.2bn. Estimates had been closer to $35bn. The previous number for November was $36.4bn. But while imports climbed 4.3%, exports also grew by 3.3% which is its highest level since late 2008. A weak dollar had made American products more attractive in the world market, especially to countries such as China. Exports to China grew to $8.4bn, a record number.
Forex: EUR/USD recovers after US trade deficit blowout. Trades at 1.3732
Posted 2/10/2010 5:46 PM ET by from FXstreet.com
The USD gained on the euro as the latest US deficit unexpectedly blew out to $40.2bn. Estimates had been closer to $35bn. The previous number for November was $36.4bn. But while imports climbed 4.3%, exports also grew by 3.3% which is its highest level since late 2008. A weak dollar had made American products more attractive in the world market, especially to countries such as China. Exports to China grew to $8.4bn, a record number.
