When performing transactions in the OTC Forex market, the possibility of making a profit is inextricably linked with the risk of losses. Ownership and other rights to the underlying assets are not transferred to clients.

US dollar falls as retail sales miss expectations

Summary:

  • US headline retail sales fell 1.2% MoM, while core sales fell 1.8% MoM, the data for December

  • Weaker data could have been affected by the US government shutdown

  • Sales in a control group declined 1.7% MoM while the consensus had pointed to a 0.4% MoM increase, this series is taken into GDP calculations

  • PPI came in close to market expectations, the data for January

  • US dollar dips on the dismal retail sales, EURUSD approaches its crucial short-term resistance

The bag of data from the US came in below expectations, this is especially true when it comes retail sales. Source: Bloomberg

The EURUSD is surging on the grim retail sales. The pair is testing the key supply zone nearby 1.13. Source: xStation5

Daily summary: Dollar continues to strengthen, EURUSD and GBPUSD 1% on the downside
Stock of the week - Bed Bath & Beyond (18.08.2022)
Massive drop in US gas inventories!
DE30: Setback in the short-term upward trend
BREAKING: US jobless claims unexpectedly fall back to 250k