Source: ForexYard
U.S. retail figures for the month of January arrived this afternoon. After enjoying an increase of 0.8% for the month of December, the U.S. turned in a 0.4% gain. Many attribute this gain to the large amount of post-holiday shopping in the States. Large retail chains try their best to attract shoppers once the holiday season has ended. While these efforts paid off somewhat, the overall retail figures did not meet expectations of a 0.6% gain.
The USD did experience gains earlier in the day and with these numbers being released, there is the possibility that the strength of the USD will continue throughout the day. We’ve already seen strong numbers put up against the euro, Sterling, and Swiss Franc, be aware that the USD could solidify these gains.
Forex Market Analysis provided by ForexYard.
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