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U.S. wholesale inventories rise less-than-expected in June

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Forexpros - U.S. wholesale inventories rose less-than-expected in June, posting the smallest gain since November 2010, official data showed on Wednesday.

In a report, the U.S. Census Bureau said that wholesale inventories rose by 0.6% in June, below expectations for a gain of 1.0%.

The previous month's figure was revised down to 1.7% from a previously reported gain of 1.8%.

Following the release of the data, the U.S. dollar was up against the euro, with EUR/USD tumbling 1.29% to hit 1.4191.

Meanwhile, U.S. equity markets were sharply lower after the open. The Dow Jones Industrial Average plunged 2.85%, the S&P 500 index sank 2.75%, while the Nasdaq Composite index plummeted 2.95%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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