Great Economic Numbers from US but the USD Is Barely Taking Notice - Forex News by FX Leaders

Great Economic Numbers from US but the USD Is Barely Taking Notice

Posted Friday, December 15, 2017 by
Skerdian Meta • 1 min read

The US retail sales and employment reports were just released and they were exceptionally good, particularly the retail sales one. But, the USD is not really feeling it from what I can see.

The main retail sales number came out at 1.0% against 0.6% expected. Last month’s number was revised considerably higher too, from 0.1% to 0.4%. The core retail sales jumped by 0.8% this time while expectations were for a 0.3% increase.  Last month’s number here was revised higher as well to 0.5% from 0.2%.

Of course, sales will jump if the buyers pile up like this, but it’s the US

That wasn’t all though, the unemployment claims number was about 10K below expectations. These are some really good numbers as I said, but the US Dollar is not getting it I think.

The reason for the numbness in the USD is that Black Friday has spiked up the sales, online or over the counter. Nonetheless, this is a really good retail sales report and if the December report is positive too, the FED will surely increase economic projections.

December is the Christmas month, so retail sales are likely to grow again. But, until then, the market wants to wait and see. It’s for this reason that I’m not jumping in on USD longs right now after the great data today, although EUR/USD looks tempting.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
Related Articles
During Friday's early Asian trading session, the [[WTI]] crude oil prices snapped its three-day bullish run-up. They came under some selling
2 weeks ago
Comments

Leave a Reply

avatar
  Subscribe  
Notify of