In New York trading Monday the euro began the week stronger against the dollar, as positive Japanese economic data released overnight reinforced investor confidence in a global economic recovery.
Focus at US Retail Sales
Considering 8:30 a.m. EST release of monthly U.S. retail sales as another indicator of the sustainability of the turnaround, investors are keeping an eye on it. It is expected that the sales are going to show some improvement.
Position of Major Currencies
According to EBS via CQG, early Monday in New York, the euro was at $1.4973 from $1.4920 late Thursday. The dollar was noted to be at Y89.51 from Y89.65, whereas the euro was at Y134.02 from Y133.79. The dollar was seen at CHF1.0079 from CHF1.0119. The U.K. pound was at $1.6731 from $1.6690.
Dollar Index
The Dollar Index, was at 74.968 from 75.229. It is the index by which the greenback against a trade-weighted basket of six currencies is tracked.
Expectation of improvement in US Retail Sales
U.S. retail sales, are expected to improve by 0.9% for October which were slipped 1.5% in September.
Overnight, it has been said by Japan’s government that in July-September the nation’s gross domestic product grew a price-adjusted 1.2% from the prior quarter, or a 4.8% increase on an annualized basis. The 0.6% on-quarter growth and 2.2% annualized rise that was expected by economists polled by Dow Jones Newswires has been beaten by the result.
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Posted by R. MAK. in Currency Trade, Economic Outlook, Forex Basics, Forex Market, Forex News, Forex trading, Markets, Trading · 0 Comment
