We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
More View more
Real Time News
  • The $JPY may resume a five-year rise against the New Zealand Dollar if prices make good on a Head-and-Shoulders pattern, pushing NZD/JPY toward 70.00. Get your market update from @ddubrovskyFX here: https://t.co/DXPkAjLoLp https://t.co/nyi5fDamr8
  • RT @RaoulGMI: Thanks Fitwit! Lots of great, smart ideas of playing the downgrades of BBB. The collective hive mind is truly incredible and…
  • transmissibility is increasing — news flow hasn’t been kind over the weekend — should be an interesting globex open #CoronavirusOutbreak https://t.co/UZYoZOQZ7V
  • The #Euro may be preparing to turn lower against the Japanese Yen, resuming a two-year downtrend and setting the stage for a decent below the 111.00 figure. Get your market update from @IlyaSpivak here: https://t.co/jtjJ1H2eRi https://t.co/epncUWJTSo
  • The $JPY has faded into 2020 as market risk appetite has held up and hit demand for haven assets. USD/JPY now challenges a key medium-term downtrend, but hasn’t topped it yet. Get your market update from @DavidCottleFX here:https://t.co/4X6vgCgkB7 https://t.co/bLWABxibOo
  • My pleasure! https://t.co/R7ArKNjCNO
  • The range in USD/CAD broke with aggression this week as CAD sellers pushed the currency after the Bank of Canada rate decision. Get your $USDCAD technical analysis from @JStanleyFX here: https://t.co/8oHoLLqvtR https://t.co/8ZXx6GbKAn
  • The $USD may fall against the Swedish Krona and Norwegian Krone if commentary from officials at the Davos forum uplift market mood and pressure haven-linked currencies. Get your market update from @ZabelinDimitri here: https://t.co/CPmNJSgHXY https://t.co/RdM0cbyfSf
  • The $AUD is pressuring four-month trend support against its US counterpart as sellers fight to reassert the dominant, long-term downtrend. Get your market update from @IlyaSpivak here:https://t.co/Bup64Arva9 https://t.co/CpraRXneTJ
  • The British Pound may fall as #Brexit commences, but will the Bank of England cut rates? The US Dollar could rise if the Fed spooks markets with plans to unwind repo operations $GBPUSD #BoE #GBP #Sterling - https://www.dailyfx.com/forex/fundamental/forecast/weekly/gbp/2020/01/26/British-Pound-May-Yet-Fall-on-Brexit-BoE-and-Fed-Are-Risks.html?CHID=9&QPID=917702 https://t.co/v39NsmOCwa
USD Climbs as U.S. Retail Sales Grows in February By Most in Five Months

USD Climbs as U.S. Retail Sales Grows in February By Most in Five Months

2012-03-13 13:21:00
Tzu-Wen Chen, Technical Strategist

THE TAKEAWAY: [U.S. February Advance Retail Sales Grow By Most in Five Months] > [Pickup in retail sales across most industries, led by auto, clothing and gasoline stations; rising consumer confidence] > [USD strengthens]

The U.S. Consensus Bureau released its February Advance Monthly Retail Trade Report today ahead of the Federal Reserve’s rate decision later this afternoon. The report revealed that retail sales in the U.S. rose in February by the most in five months, rising by 1.1 percent to match the median forecast of 81 economists polled in a Bloomberg News survey. January’s estimate was revised upwards to 0.6 percent from 0.4 percent.

Retail demand improved in 11 of 13 industry categories, led by sales in clothing (1.8 percent) and auto (1.6 percent). Meanwhile, sales at gasoline stations jumped by 3.3 percent, reflecting rising gasoline costs. The pickup in retail sales indicates growing consumer confidence as the labor market continues to improve and recovery of the U.S. economy gathers pace. The unemployment rate has dropped to its three-year low of 8.3 percent, while job growth has continued to increase. However, in his address to Congress on March 1, 2012, the Federal Reserve’s Chairman Bernanke cautioned that the rise in gasoline prices ‘is likely to push up inflation temporarily while reducing consumers’ purchasing power’, which could stem the pace of retail sales growth in coming months.

USDJPY 1-minute Chart: March 13, 2012

USD_Climbs_as_U.S._Retail_Sales_Grows_in_February_By_Most_in_Five_Months_body_Picture_2.png, USD Climbs as U.S. Retail Sales Grows in February By Most in Five Months

Chart created using Strategy Trader– Prepared by Tzu-Wen Chen

Immediately after the data release, the greenback strengthened against most major currencies on the positive retail sales figures. The U.S. dollar jumped by 10 pips against the Japanese yen to 82.82 yen to the dollar before retracing slightly. At the time of this report, the USDJPY pair was trading slightly higher at around 82.76.

--- Written by Tzu-Wen Chen DailyFX Research

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.


News & Analysis at your fingertips.