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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