One analyst tells us that the Chinese new year may have played a big role in the closing of the US trade gap in February. The bilateral gap fell by a whopping $5 bln on the month. That could rebound in next month’s data.
EUR/USD is having trouble holding gains on th big S&P rally, a worrying sign for stale longs. EUR/GBP sales have helped weigh on the single currency, pushing it to the 1.3250s from the 1.3299 New York highs. 1.3230 is near-term support with a cluster of small sell-stops just below that level.
