US dollar doesn't get much of a lift from retail sales
The US dollar firmed after a strong retail sales report but not as much as you would expect.USD/JPY rose about 20 pips but hasn't been able to break 148.00. EUR/USD is down 10 pips.Those are some modest moves despite the retail sales control group at +0.8% compared to +0.2% expected and a positive revision to the prior (+0.5% vs +0.4% initially reported).There was a stronger reaction in the bond market were US 2-year yields rose 5 bps and are now back to where they were last Wednesday.S&P 500 futures are down 31 points and that should be helping the dollar on most fronts but it's not offering much of a lift. The laggard today is the Australian dollar but that's mostly to the ongoing dismal equity performance from China. This article was written by Adam Button at www.forexlive.com.
The US dollar firmed after a strong retail sales report but not as much as you would expect.
USD/JPY rose about 20 pips but hasn't been able to break 148.00. EUR/USD is down 10 pips.
Those are some modest moves despite the retail sales control group at +0.8% compared to +0.2% expected and a positive revision to the prior (+0.5% vs +0.4% initially reported).
There was a stronger reaction in the bond market were US 2-year yields rose 5 bps and are now back to where they were last Wednesday.
S&P 500 futures are down 31 points and that should be helping the dollar on most fronts but it's not offering much of a lift. The laggard today is the Australian dollar but that's mostly to the ongoing dismal equity performance from China. This article was written by Adam Button at www.forexlive.com.
