News of the day on 14.07.2015

July 14, 2015

Today, investors are waiting for the publication of the U.S. Retail Sales statistics for June. It is one of the key indicators for the U.S. economy which significantly influences GDP. Consumer spending accounts for 70% of U.S. GDP, and retail sales take a large part of consumer spending. Retail Sales Index does not include the cost of services, but still it can be used as a leading indicator for GDP.

The figure, both for Retail Sales and Retail Sales excluding auto, which is a highly volatile component, is expected to reduce to 0.3% and 0.5%, respectively. Thus, Retail Sales continue to grow, but not as significantly as in May, when the indicators reached the level of 1.2% and 1.0%, respectively. Should the statistics match the forecast, it may add pressure on the U.S. currency and weaken it against most major currencies.

Moreover, today it is worth noting the speech given by Mark Carney, the Bank of England Governor. No special surprises are expected, but a hint at the further direction of U.K. monetary policy may be given.

If the forecast for June’s Retail Sales Index in the U.S. confirms, the EUR/USD pair may grow to 1.1065 and 1.1105. Long positions can be opened from 1.1035 with stop-loss at 1.1000. But if the figures are more favorable for the U.S. dollar, the pair price should go down to 1.0970 and 1.0925. Open short positions below 1.1000 with stop-loss at 1.1035.

Publication source
LiteForex information  LiteForex reviews

January 20, 2017
Cautious EURUSD Ahead of ECB Press Conference
USD, and the US government bond yields, surged last night following Fed president Janet Yellen’s speech to the Commonwealth Club in San Francisco...
January 19, 2017
Is equilibrium out of reach?
Let’s check what’s going on with Oil before turning our attention to the Russian Ruble. “Black gold” is forming a reversal pattern next to the key level of 52.10. The only matter is that this pattern is above the horizontal level, but the 52.10 level can potentially become the neckline of our pattern...
January 18, 2017
Trump Inauguration Market Outlook
Friday, January 20, 2017 will mark the historic inauguration of what promises to be a highly unconventional US presidential administration...

XM Rating
FIBO Group Rating
FXCM Rating
Fort Financial Services Rating
OANDA Rating
EXNESS Rating

Migesco Rating
24option Rating
Beeoptions Rating
Empire Option Rating
99Binary Rating
Porter Finance Rating