A big bulk of US data rocks the markets. US retail sales were rose by 0.6%. They were expected to rise by 0.4% after rising 0.1% last month. Core sales rose by 0.3%, as predicted. Jobless claims dropped to 334K. They were expected to rise from 346K (before revisions) to 354K now. The data is positive.
EUR/USD was trading at the bottom of the uptrend parallel channel around 1.3320. USD/JPY was holding above 94, after being knocked down by Japanese stocks once again. The US dollar is now on the rise. EUR/USD is tentatively losing uptrend support. USD/JPY is rising.– updates coming —
Continuing claims remain under 3 million once again, standing at 2.973.
Import prices dropped by 0.6%. They were expected to remain flat after dropping by 0.5% last month. There are fears of deflation all over the world and this number doesn’t help calm these fears.
Here is a chart of EUR/USD, showing the slide off uptrend support. This isn’t confirmed yet. Update: EUR/USD returns back to the channel and recovers.
In Canada, the New Housing Price Index rose by only 0.2%. It expected to rise by 0.3% and the capacity utilization rate was estimated to advance to 81.3% but it rose only to 81.1%.
Business Inventories are scheduled for 14:00 GMT. Tomorrow, consumer sentiment from the University of Michigan is published. See how to trade the US consumer sentiment with EUR/USD.
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