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U.S.'s retail sales supporting the dollar

Weekly synopsis

U.S.'s retail sales and producer prices supported the dollar, thus gaining momentum last Friday, amid the expectations that the FED could come up with a rate hike in the next few months.

U.S.'s retail sales 0.6% higher

The retail sales in the U.S. rose 0.6% for the month of September, as per the Commerce Department.

Following the latest concerns on inflation, the central bank in the U.S. will be likely increasing rates in December.

The U.S. dollar index traded to 98.08 and was 0.56% higher. The index appreciated 14% for the week.

The EUR/USD traded to 1.0971, 0.78% weaker, whereas the USD/JPY traded to 104.15, 0.43% higher. The GBP/USD approached the 1.2186 zone, 0.55% lower.

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Monday, 17 Oct, 2016 / 5:58

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Source : https://www.argusfx.com/en/research-education/market-analysis/weekly/u.s.-s-retail-sales-supporting-the-dollar

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