US retail sales may influence risk trends

Published on Thu, Mar 12 2009
US dollar price action was mainly to blame for much of what occurred over the forex markets on Wednesday, as the DXY index at last broke under severe trend-line support, indicating the currency is officially spinning below. There was not much in the way of fundamental news for the US, but that is going to be different on Thursday as the Commerce Department is predicted to reveal that US retail sales drop negative for the 7th time throughout the last 8 months in February, as worsening labor markets, tight credit situations, and a year-long depression influence badly on the minds of consumers. More particularly, advance retail sales are expected to have contracted 0.5 % throughout the month, and keeping out auto sales are predicted to have drooping 0.2 %, marking what might result in being a steady trend throughout the 1st half of 2009.