Forexpros – U.S. business inventories rose more-than-expected in April, official data showed on Wednesday.
In a report, the U.S. Census Bureau said that wholesale inventories rose by 0.4% in April, above expectations for a 0.3% gain.
Business inventories for March rose by an unrevised 0.3%.
Following the release of the data, the U.S. dollar remained mildly lower against the euro, with EUR/USD adding 0.2% to trade at 1.2529.
Meanwhile, U.S. equity markets were broadly lower after the open. The Dow Jones Industrial Average fell 0.4%, the S&P 500 index declined 0.4%, while the Nasdaq Composite index shed 0.3%.
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