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12 Apr 2013
Forex Flash: US Retail data could disappoint - BTMU
FXstreet.com (Barcelona) - Derek Halpenny, European Head of Global Markets Research at the Bank of Tokyo Mitsubishi UFJ notes that the slight upside bias mentioned in EUR/USD mostly reflects his view that today´s retail sales data could disappoint.
He writes, “The NFP report revealed 24k of job losses in the retail sector while there has yet to be much evidence of a hit to sales from the rise in gasoline prices from mid-January to March. Also the early March consumer confidence readings were weak. That could mean the dollar underperforms in the aftermath of the data.”
He writes, “The NFP report revealed 24k of job losses in the retail sector while there has yet to be much evidence of a hit to sales from the rise in gasoline prices from mid-January to March. Also the early March consumer confidence readings were weak. That could mean the dollar underperforms in the aftermath of the data.”