Daily Market Roundup: US ? April 14

Daily Market Roundup: US ? April 14

By: James Ansher | Where To Trade | On:14-04-2015 11:00
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Key Highlights

  • US dollar jaw drops against most major currencies, as the US retail sales missed the forecast.

  • In the US, the retail sales released by the US Census Bureau registered an increase of 0.9% in March 2015, compared to the forecast of a 1.1% rise.

  • US Producer Price Index released by the Bureau of Labor statistics, Department of Labor posted an increase of 0.2% in March 2015 just as the market expected.

Key Releases:

US retail sales (US Dollar)

US PPI (US Dollar)

US Retail Sales

Earlier during the NY session, the US retail sales report stating the total receipts of retail stores was released by the US Census Bureau. The forecast was of a 1.1% rise in March 2015, compared to the preceding month. However, the outcome missed the mark, as the US retail sales posted an increase of 0.9%. The report stated that the US retail and food services sales for March in terms of the seasonal variation were $441.4 billion, which was higher compared to the last time.

In terms of the yearly change, the US retail sales posted an increase of 1.3% in March 2015, compared to the same month a year ago. Moreover, there was a mention that the total sales for the January 2015 through March 2015 period was higher by more than 2.2% compared to the same period a year ago.

US PPI

There was one more release scheduled in the US, as the Producer Price Index representing the average changes in prices in primary markets of the US by producers of commodities in all states of processing was published by the Bureau of Labor statistics, Department of Labor. The market was expecting an increase of 0.2% in March 2015, compared to the preceding month. The outcome was in line with the forecast, as the US PPI gained by 0.2%.

In terms of the yearly change, the US PPI decreased by 0.8% in March 2015, compared to the same month a year ago. Overall, the data was not encouraging enough to lift the US dollar in the short term.

Moving Ahead

Both EURUSD and GBPUSD blasted higher after the US retail sales report. EURUSD traded above 1.0640 and was eying a test of the 1.0700 barrier. Similarly, the GBPUSD pair traded higher and tested the 1.4780 resistance zone.

Futures for the Dow Jones Industrial Average surged was up to trade near 18,060 and the S&P 500 index traded to 2,096.

 

James Ansher

James Ansher

When there is a will there is a trade

A successful Forex trader and expert advisor

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