Currency Analyst since 2010

US dollar hit by trade balance

US dollar was affected by the disappointing US trade data for March. American trade deficit increased to the biggest level since October 2008 reinforcing concerns about the poor performance of the world’s largest economy in Q1. On Wednesday traders will be watching US private ADP employment report at 12:15 GMT.

EUR/USD returned to 1.1250. GBP/USD rose to 1.5235. USD/JPY was rejected by resistance at 120.50 on Tuesday and slid below 120.00. AUD/USD rose to 0.7980 despite slower growth in Australian retail sales.

NZD/USD fell to 0.7460 as New Ze4aland’s employment grew less than expected, while the jobless rate was revised up from 5.7% to 5.8%, while economists expected a revision down to 5.5%.

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