It’s all red: retail sales dropped, PPI is poor and the Empire State Manufacturing Index is down. US retail sales fell 0.3%, and core sales by 0.2%. While the headline number was expected to slide, the fall is bigger than expected and the disappointment is bigger in the core number which was expected to rise. Producer prices were expected to advance by 1.8% in both headline and core numbers. They both stand at 1.6%, showing very poor inflation in PPI. The Empire State Manufacturing Index plunged to 6.17 points, a third of expectations. Update: USD flash crashes: EUR/USD > 1.28, GBP/USD > 1.60 And so is the dollar: EUR/USD is above 1.27, GBP/USD rises to 1.5940 and USD/JPY is at a new multi-month low. Retail sales were expected to tick down 0.1% m/m and core sales carried expectations for a rise of 0.2% in the month of September. Consumption is a very significant part of the US economy. PPI and core PPI were both expected to rise 0.1% m/m. The Empire State Manufacturing Index was estimated to drop from 27.5 to 20.3 points. Towards the publication, the dollar was retreating a bit against some currencies, but didn’t go very far. More: USD: Overbought; Further Position Clearing Ahead – Credit Agricole EUR/USD was trading heavily due to worries about Germany, but towards the event, it topped 1.2660 and now breaks above 1.27. GBP/USD had mixed employment data, was flirting with 1.5950 and is now around 1.5960. USD/JPY is down below 1.0640 – a new cycle low. The yen enjoys the safe haven flows. USD/CAD was rising without a pause on the collapse of oil prices. After reaching 1.1384 it began sliding and it is now at 1.1322. AUD/USD is now climbing from support at 0.87, recovering from the weak Chinese CPI. NZD/USD is shooting up towards 0.79. More: EUR/USD: Sell Bounces; USD/JPY: Long Against Key Support – Credit Suisse Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next USD: Overbought; Further Position Clearing Ahead – Credit Agricole Yohay Elam 7 years It's all red: retail sales dropped, PPI is poor and the Empire State Manufacturing Index is down. US retail sales fell 0.3%, and core sales by 0.2%. While the headline number was expected to slide, the fall is bigger than expected and the disappointment is bigger in the core number which was expected to rise. Producer prices were expected to advance by 1.8% in both headline and core numbers. They both stand at 1.6%, showing very poor inflation in PPI. The Empire State Manufacturing Index plunged to 6.17 points, a third of expectations. Update: USD flash crashes: EUR/USD > 1.28,… Top 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.
