We wrote a couple of weeks ago about the fact that May has generally been a good month for the dollar in recent years (see Dollar selling for now), averaging 3.9% on the dollar index over the past four years. Some of that was caused by the strong decline in the single currency during the euro crisis back in May 2010, but even leaving aside that aberration, May has still proven to be the best month for the dollar in recent years. What is noticeable is that data has continued to fall to the strong side of expectations, so if this continues then this suggests the dollar could have some scope for catch-up. For today’s retail sales data, the market is looking for a 0.4% gain, with the less volatile core measure (excluding autos and gas) seen up 0.5%. Ahead of that, overnight data from China has fallen slightly short of expectations, Retail sales rising 11.9% YoY and industrial production rising 8.7% (expected 8.9%). This has seen the Aussie and yen weaker vs. the Greenback, whilst the euro has clawed back some of the losses seen over the previous 24 hours, but all within fairly tight ranges. The softer Aussie tone was also helped by weaker home loans data seen earlier (falling 0.9%) and suggest that there may be some cooling in the housing sector. Note that the Australian budget is released today, which is likely to see spending cuts and tax measures aimed at putting the budget on a more even keel. If the budget is tighter than expected, the Aussie could be under some pressure, but expectations of rate changes this year (up or down) remain slim, so it’s unlikely that we will see strong downward pressure even with a tight budget. Further reading: Here’s Why Euro’s Downfall Won’t Be Easy China’s growth slowdown pressures the global economy FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Daily Look share Read Next GBP/USD: Trading the British Jobs May 2014 Kenny Fisher 8 years We wrote a couple of weeks ago about the fact that May has generally been a good month for the dollar in recent years (see Dollar selling for now), averaging 3.9% on the dollar index over the past four years. Some of that was caused by the strong decline in the single currency during the euro crisis back in May 2010, but even leaving aside that aberration, May has still proven to be the best month for the dollar in recent years. What is noticeable is that data has continued to fall to the strong side of expectations, so… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.