Another round of positive data from the US
Skerdian Meta • 1 min read
This afternoon we had another positive round of economic data from the United States. The retail sales for May posted a 0.5% gain against 0.4% expected while the core retail sales number which doesn´t include cars, gasoline and building materials showed a 0.4% gain versus 0.3% expected and the April´s number was revised higher too. On top of that, the import prices jumped by 1.4% and the export prices jumped by 1.1% against 0.3% expected.
This makes the report pretty good but the US Dollar didn´t feel the love it was supposed to. In fact, it was quite the opposite, the US Dollar lost about 40 pips, which went in the favour of our NZD/USD buy forex signal. It missed our take profit by one mere pip but at least that forex signal is still in play. Tomorrow we have the US producer inflation numbers (PPI), but that´s not really a very important piece of data, so this was the last piece of important economic data from the US before the FED meeting which will be held tomorrow evening. Personally, I can´t wait to see their interest rate decision.