US Retail Sales Up Next The key data focus today is on the July US retail sales due to be released later this afternoon. With recent data having been mixed, the release is a tough one to gauge. The bumper US jobs report was offset by a weaker-than-expected CPI print for July and heading into today’s release, the market is looking for the core reading to print just 0.2%, from the prior month’s 1.3% reading. On the headline reading, the market is looking for -0.2%, down from the prior month’s 0.6% result. Obviously, with such low expectations there is plenty of room for an upside surprise. However, unless today’s results come in stronger than last months, they will likely take some shine off the US Dollar in the near term.Where to Trade US Retail Sales?USDJPYWith JPY continuing to rise amid strong safe haven flows, any data-induced USD weakness has the potential to drive USDJPY even lower. With MCAD bearish now and RSI turning lower, a break of the rising trend line and the 108.71 level will turn focus to the deeper 107.91 level next.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/market-spotlight-trading-july-us-retail-sales"
via IFTTT
Subscribe to:
Post Comments (Atom)
-
The new strain of covid found in South Africa could disrupt plans by governments and central banks to rebuild economies. Financial markets a...
-
Fidelity “FIS” is a global financial services technology company and a leader in providing technology solutions to merchants, banks and cap...
-
Asian Equities Sink on Covid FearsIt’s been a mixed start to the week for global equities benchmarks with US and European asset markets rema...
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.