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
Elinor Ostrom -- an American professor who developed ways to manage common property - is the first woman to win the Nobel prize for economics.
more »
The European Commission has today approved an application from the Netherlands under the Globalisation Adjustment Fund (EGF) for € 386 114 to help 435 workers made redundant by Heijmans N.V., a Dutch construction company, back into jobs.
more »
Seeking to strengthen and further expand product sales in the Asian region, the Lithuanian biotechnology company Fermentas established its subsidiary in China.
more »
Statistics Lithuania reports that, based on non-final data obtained from customs declarations and Intrastat reporting data, exports in January–August 2009 totalled LTL 25.6 billion, while imports – LTL 28.9 billion.
more »
On 6 October 2009 AB Bank SNORAS Board decided to reform the Private Limited Company UAB “SNORO investicijų valdymas” into the Public Limited Company AB „Finasta Holding“, which will control recently obtained „Finasta“ group companies and other Bank SNORAS group companies, engaging in investment management.
more »
If your airline goes bankrupt and leaves you stranded what are your legal rights? Members of the Parliament's Transport Committee want grounded passengers to have access to a special compensation fund.
more »
Euro report says currency provided protection from interest and exchange rate turbulence.
more »
Statistics Lithuania informs that in September 2009, against August, prices for total industrial production sold dropped by 1.6 per cent.
more »
The European Bank for Development and Reconstruction (EBRD), the European Investment Bank (EIB) Group, and the World Bank Group* on Monday warned against complacency in the face of significant challenges that stand in the way of economic recovery in Central and Eastern Europe.
more »
The leader of the country’s investment products’ market – AB DnB NORD Bankas – intends to issue up to EUR 300 million nominal value corporate notes in local and foreign markets over the next 12 months.
more »