Dollar Advances After Report Shows U.S. Trade Deficit Narrowed
Published:
14 July 2004 y., Wednesday
The dollar had its biggest gain against the euro in two weeks after the U.S. trade deficit narrowed for the first time in six months, helped by exports that surged to a record.
Increased demand for the dollar helped the currency rebound from a four-month low against the euro and sent it higher against the other 15 most-traded currencies tracked by Bloomberg, including the Japanese yen, as well as the Canadian and Australian dollars.
``Expectations were that the deficit could have reached $50 billion -- it's a relief that it didn't,'' said Robert Lynch, a currency strategist in New York at BNP Paribas SA, France's second-largest bank by assets. ``The dollar could recoup some of its losses, especially given how far it has fallen since June.'' The dollar may rise to $1.2250 in the next few days, he said.
Against the euro, the dollar strengthened to $1.2323 per euro from $1.2409 late yesterday, according to EBS, an electronic currency dealing system. It was the biggest gain since June 29. The dollar also rose to 108.96 yen from 108.25 late yesterday.
The $46 billion gap in goods and services trade followed a record deficit of $48.1 billion in April, the Commerce Department said in Washington. The 4.5 percent reduction in the deficit in May was the largest since October 2002.
Šaltinis:
Bloomberg
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Commission has authorised under EU state aid rules a €550 million capital injection and a €400 million guarantee in favour of the Austrian bank BAWAG. P.S.K. The Commission found the measures to be in line with EU state aid rules.
more »
EUROSTAT has reported that the sharpest annual decrease in hourly labour costs of -10.9% was observed in Lithuania in the 3rd quarter of 2009.
more »
Statistics Lithuania informs that, according to the Labour Force Survey data, the number of the unemployed in III quarter 2009 made 228.1 thousand.
more »
What has come to be termed as the "Great Recession" seems to have come to an end in the third quarter of 2009.
more »
The European Commission has authorised, under EU State aid rules, a measure adopted by Lithuania to limit the adverse impact of the current financial crisis on exporting firms.
more »
The schedule of Vilnius International Airport (VIA) is supplemented with 3 more new directions; the airline company airBaltic starts regular flights to Paris today, to Munich tomorrow, and to Berlin on Monday.
more »
The Governing Council of the European Central Bank (ECB) has decided to start the main construction works for its new premises in spring 2010.
more »
AB Bank SNORAS was granted the award from NASDAQ OMX Baltic Stock Exchange for the jubilee 15-year listing of the bank’s shares on NASDAQ OMX Vilnius Stock Exchange.
more »
Parex banka has established a subsidiary, SIA NIF, which will professionally manage assets that are not related to the Bank’s core business.
more »
Mariann Fischer Boel, European Commissioner for Agriculture and Rural Development, today put forward a plan to ensure that Greece will put in place the systems necessary to allow EU aid payments to be made to farmers.
more »