US Dollar Trades Under Pressure After Disappointing Retail Sales Report for September - Forex News by FX Leaders
US dollar index DXY

US Dollar Trades Under Pressure After Disappointing Retail Sales Report for September

Posted Thursday, October 17, 2019 by
Arslan Butt • 1 min read

The US dollar is trading weaker against most of its peers following the release of a weaker than expected retail sales figure for September. At the time of writing, the US dollar index DXY is trading at around 98.00.

US retail sales contracted for the first time since February this year during the month of September, giving rise to worries of a recession in the US economy on account of the ongoing trade tensions. The unexpected decline in retail sales has reignited the possibility of yet another rate cut by the Fed in its upcoming meeting later this month.

The US dollar is also trading under pressure as markets wait for concrete progress on the US-China Phase 1 trade deal which was announced last week. While negotiations are reportedly underway, China still has some concerns that it would like addressed in another meeting, and markets are worried if the interim trade deal could possibly face hiccups as a result.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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