U.S. retail sales data

• Core Producer Price Index (PPI) (m/m) (Jan), fact 0.3%, forecast 0.2%.
• Core Retail Sales Index (m/m) (December), fact -1.8%, forecast 0.0%.
• Initial jobless claims, fact 239K, forecast 225K.
• Producer Price Index (PPI) (m/m) (Jan), fact -0.1%, forecast 0.1%.
• Retail sales (m/m) (December), fact -1.2%, forecast 0.1%.

U.S. data was significantly worse than expected, causing a significant correction in the US currency. A significant increase in pessimism for the American dollar was caused data on the core index of retail sales in the United States, which showed one of the strongest declines in the last ten years.

Fig. 1. U.S. core index of retail sales chart

As a result, the US dollar index weakened significantly against the basket of competitors, having updated the daily minimum, indicating the possibility of a correction after rising on the level of 97.20. The downward trend of the American will also be limited by the upward channel, optimism around trade negotiations and support levels: 97.00 and 96.80.

Fig. 2. The US dollar index chart. The current price is 97.00 (10-year government bonds yield is the blue line)

Read also: “Tradе currency baskets”

Andre Green

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. Features of trading within a week
2. The political crisis in Venezuela and its impact on the markets!
3. Fractals. Another simple indicator for earnings!

Current Investment ideas:

1. Ready instruction to income! Earn with #CAT!
2. Aerospace Corporation brings a cosmic income!