March inventories fell 1.6% as business continues to play it close to the vest. The upside of low inventory levels is that as the economy recovers business will have to restock the shelves, adding to GDP.
EUR/USD is consolidating its morning gains just below the 1.3500 level, supported by firm US equities, rising commodity prices and higher bond yields. Risk-taking is alive and well as markets price in a bottom in the global economy.
