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Retail Sales May Be the Interesting Data Point on Friday

Posted by WorldWideMarkets . on Sep 13, 2013 3:36:00 AM
U.S. retail sales may be the interesting trading number today. Consensus expectation is for a 0.4 percent rise in August. Historical evidence is anecdotal but strangely trading retail salesan upside surprise may see the dollar decline, and conversely a miss from expectations to the downside may see the dollar rally. But it is only anecdotal evidence and there is a lot of other data today such as producer prices for August and the University of Michigan surveys for September which could cause some excitement. But irrespective it is only a sideshow ahead of next week’s FOMC meeting, the meeting everyone is waiting for. After 8.30 am EDT expect liquidity to dry up and almost nothing to happen in FX markets before Monday.

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