Treasury - Daily Forex for day 13.07.2004

...however, the dollar erased losses, it had recorded after Japanese elections earlier on Monday. Market players will pay attention to May U.S. trade balance this afternoon, with analysts forecasting a deficit of $48.30 billion following the similar gap in April. Tomorrow's U.S. retail sales are expected to show a decline of 0.6% in June after a 1.2% increase in May.

Ignoring June inflation and jobs data that came in line with expectations, the crown dropped slightly versus the euro in yesterday's quiet session. This morning it jumped back after news that May industrial output surged 12.7% y-o-y, above expectations for a 11.0% rise.