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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Bullish
Low
High
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
Wall Street
Bearish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.26%, while traders in NZD/USD are at opposite extremes with 72.66%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ksJ0N2pq6W
  • A macro forex trading guide exploring how to trade the Euro vs the Swedish Krona and Norwegian Krone through the prism of the Core-Perimeter model. Get your market update from @ZabelinDimitri here:https://t.co/n6zwlZJmGO https://t.co/F8sLZvRG1q
  • If you missed today's session on IG Client Sentiment where I discussed the outlook for the #DowJones, $AUDUSD and $USDCAD while discussing fundamentals and technicals, check out the recording below and stay tuned for a full report! - https://t.co/2wVxhtItzX
  • Wall Street Futures Update: Dow Jones (+0.213%) S&P 500 (+0.175%) Nasdaq Composite (+0.242%) [delayed] -BBG
  • RT @margaretyjy: Watch my Bloomberg TV interview at 9:00AM Singapore time. Coming in soon! https://t.co/Z6u6offept
  • The Core-Perimeter trading model helps traders understand interactions between global economies, helping to trade the assets embedded in these relationships. Get your market update from @ZabelinDimitri here:https://t.co/dKRAo00lfA https://t.co/jw5uvZBvRx
  • Hello there, traders! It has come to my attention that there have been people pretending to be me on Twitter. If you see anyone doing so, please be sure to report them. My Twitter handle is @ZabelinDimitri. Any variation of that is an imposter. Please spread the word.
  • After approximately 100 votes, it seems that a narrow majority of participants to my poll believe Gold ($GC_F) is going to resolve its congestion with a break lower: https://t.co/NTwXu7ZaGF
  • 🇯🇵 Bank Lending YoY (JUN) Actual: 6.2% Expected: 7.2% Previous: 4.8% https://www.dailyfx.com/economic-calendar#2020-07-07
  • Heads Up:🇯🇵 Bank Lending YoY (JUN) due at 23:50 GMT (15min) Expected: 7.2% Previous: 4.8% https://www.dailyfx.com/economic-calendar#2020-07-07
EUR/USD, GBP/USD Slide as April US Retail Sales Beat Expectations

EUR/USD, GBP/USD Slide as April US Retail Sales Beat Expectations

2016-05-13 13:10:00
Christopher Vecchio, CFA, Senior Strategist
Share:

Talking Points:

- April US Advance Retail Sales cruise by expectations at +1.3% m/m.

- Quick gain in USDOLLAR Index hints at markets rethinking June Fed meeting.

-More significant US economic data to come this morning.

The cornerstone of US economic strength – consumption – just got a bump at the start of Q2’16. A modest but mostly improved April US Advance Retail Sales report today has the US Dollar gaining broadly as market participants weigh the odds of the Federal Reserve hiking rates in June. With the Fed funds futures contract implying only a 4% chance of a hike in June ahead of today’s data, there’s room for markets to close the expectations gap and drive the US Dollar higher.

Here are the data lifting the US Dollar this morning:

- USD Advance Retail Sales (APR): +1.3% versus +0.8% expected, from -0.4% (revised lower from -0.3%) (m/m).

- USD Retail Sales Less Autos (APR): +0.8% versus +0.5% expected, from +0.2% (m/m).

- USD Retail Sales ex Auto & Gas (APR): +0.6% versus +0.3% expected, from +0.1% (m/m).

- USD Retail Sales Control Group (APR): +0.9% versus +0.4% expected, from +0.1% (m/m).

See the DailyFX economic calendar for Friday, May 13, 2016

Chart 1: EUR/USD 1-minute Chart: May 13, 2016 Intraday

EUR/USD, GBP/USD Slide as April US Retail Sales Beat Expectations

EUR/USD had been trading in a narrow range all morning long, roughly between $1.1340 to $1.1355 ahead of the 12:30 GMT data. However, upon the release of the better than expected US consumption figures, EUR/USD was quick to drop from near $1.1345 to as low as $1.1308, at the time this report was written. Similar price action was observed in GBP/USD, which dropped from $1.4408 to $1.4366, at the time this report was written.

Chart 2: GBP/USD 1-minute Chart: May 13, 2016 Intraday

EUR/USD, GBP/USD Slide as April US Retail Sales Beat Expectations

Read more: USDOLLAR Index Finding Footing - Will Key Data Comply?

--- Written by Christopher Vecchio, Currency Strategist

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

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

DISCLOSURES

News & Analysis at your fingertips.