Treasury - Daily Forex for day 27.05.2004

...releases out of the U.S. helped the dollar. Durable goods orders declined by more-than-expected 2.9% in April, after an upwardly revised 5.7% jump in the previous month. Economists on average had predicted a 0.2% drop. U.S. new home sales slid 11.8% in April, compared with a record-high growth rate in March.

The Czech currency fell from its 8-month highs versus the euro on Wednesday after higher-than-expected foreign trade deficit weighed on the positive sentiment on the market. The April trade gap amounted to 10.8 billin crowns, while analysts had forecast a 5.0 billion shortfall. The Czech National Bank holds a monetary policy meeting today, but the market expects no hike in interest rates.