Many investors are trying to gauge whether the US can gain ground this week after hints at an interest rate increase in Europe failed to spurn investors to go long on the EUR/USD. Analysts appear to be scanning the horizon for news which could support the view of a dollar uptick in the next week. Tomorrow’s retail sales data may be the info needed to fill a gap in the economic picture.
The retail sales and core retail sales figures are scheduled to be released side-by-side at 13:30 GMT tomorrow alongside this month’s PPI figure. The grim forecast for both retail sales report grants a cushion of low expectations. Even a mildly bullish figure above these weak forecasts could be enough to push the USD higher in this week’s trading.
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Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
