EUR/USD Rallies with U.S. Wholesale Inventories

EUR/USD went up significantly today on the background of the rising wholesale inventories in United States, but the main reason for the rally was probably in the Greeceā€™s bailout expectation. The currency pair reached its highest level since Tuesday and is now trading near 1.3470.

Wholesale inventories continued to grow in February and increased by 0.6% during that month after a growth of 0.1% during January. The estimate of the wholesale inventories growth was at 0.4%.

Initial jobless claims were reported yesterday. They rose from 442k to 460k last week, while the forecasts were for a decline to 435k.