Talking Points
- Analysts and economists were expecting an improvement in US retail sales and inflation figures for April.
- In the event, the numbers came in worse than they were predicting.
- Check out the DailyFX Economic Calendar and see what live coverage of key event risk impacting FX markets is scheduled for the week on the DailyFX Webinar Calendar.
Analysts and economists were expecting improved US retail sales and consumer price index figures for April after a poor set of data at the end of the first quarter.
In the event, though, the numbers were disappointing, leading to losses for the US Dollar. At the margin, the data make an increase in US interest rates next month less likely. It will therefore be important to listen to Federal Reserve speakers over the coming days to check whether the numbers have changed their minds about another rate rise.
If the rhetoric is less hawkish, expect the US Dollar to weaken further.
--- Written by Martin Essex, Analyst and Editor
To contact Martin, email him at martin.essex@ig.com
Follow Martin on Twitter @MartinSEssex
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