Investing.com - U.S. business inventories rose more-than-expected in January, official data showed on Wednesday.
In a report, the U.S. Census Bureau said that wholesale inventories rose by 1% in January, above expectations for a 0.4% increase.
Business inventories in December were revised up to a 0.3% gain from a previously reported advance of 0.1%.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.72% to trade at 1.2941.
Meanwhile, U.S. equity markets were lower after the open. The Dow Jones Industrial Average declined 0.15%, the S&P 500 index dipped 0.1%, while the Nasdaq Composite index fell 0.3%.
In a report, the U.S. Census Bureau said that wholesale inventories rose by 1% in January, above expectations for a 0.4% increase.
Business inventories in December were revised up to a 0.3% gain from a previously reported advance of 0.1%.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.72% to trade at 1.2941.
Meanwhile, U.S. equity markets were lower after the open. The Dow Jones Industrial Average declined 0.15%, the S&P 500 index dipped 0.1%, while the Nasdaq Composite index fell 0.3%.