FX.co ★ Fundamental Analysis, March 10, 2011

The wholesaler stocks grew faster than expected in January, while sales in the wholesale sector grew at the fastest rate since November 2009. The Department of Commerce announced that stocks grew by 1.1% in January, while economists have predicted a climb of only 0.9%.

The price of crude oil has declined yesterday for the second day in a row after a sharper than expected rise in the supplies of crude oil in the United States. The Department of Energy announced that the supply of oil grew last week by 2.5 million barrels to a level of 348.9 million barrels in total.

Analysts had predicted a more moderate ascent by a million barrels. Crude oil futures for April locked yesterday on 104.38 United States dollars for one barrel of oil, a 0.6% decline at the New York Commodities Exchange.