Trading news

Dollar higher on stronger U.S. sentiment

Weekly synopsis

Dollar escalated, amid the stronger retail sales report and consumer sentiment in the U.S., higher versus its main counterparts last Friday.

U.S. dollar index to 94.6

The U.S. dollar index traded to its highest level, since April, to 94.6, rising 0.52%. The index made its second straight weekly gain, ending the week 0.76% higher.

The retail sales were upper than the analysts' predictions for a rise of 0.8%, climbing 1.3% for the month of April, performing the biggest monthly appreciation since 2015.

The GBP/USD traded to 1.4371, falling 0.48%, and the EUR/USD traded to 1.1309, declining 0.55%, as the dollar gained value versus the sterling and the euro.

Euro zone's first quarter growth was lower than the initial estimations of 0.6%, falling 0.5%. The region's yearly growth declined from 1.6% to 1.5%.

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Monday, 16 May, 2016 / 6:40

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Source : https://www.argusfx.com/en/research-education/market-analysis/weekly/dollar-higher-on-stronger-u-s--sentiment

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