US Dollar Analysis and News
- US Retail Sales and FOMC Minutes Unlikely to Move the Needle for the USD
- USD Finding Support on Dips
US Retail Sales and FOMC Minutes Unlikely to Move the Needle for the USD
Another subdued session for main threat property with the Summer lull is properly underway. That mentioned, upcoming US retail gross sales will garner market consideration in addition to the most recent FOMC assembly minutes. But first, US retail gross sales progress has been softer all year long with will increase reflecting worth rises. As such, whereas the headline price is roughly anticipated to flatline, this can unlikely be a significant mover for the USD. The foremost focus within the close to time period can be on subsequent week’s Jackson Hole Symposium.
As such, the upside is more likely to persist for the US Dollar, significantly in opposition to the Euro and GBP. Today’s UK CPI rising to double digits offered yet one more reminder that increased than anticipated inflation prints don’t essentially imply that the Pound. This is because of the truth that money markets have close to absolutely priced in a 50bps and it is rather unlikely that the BoE will go greater than 50bps, the development stays decrease in Cable with rallies to be pale.
US Dollar Chart: USD Finding Support on Dips