Greenback goes down, as American retail sales are downbeat

Greenback goes down, as American retail sales are downbeat

On Monday, the evergreen buck slipped due to the fact that US retail sales data for September missed analysts’ hopes, and as benchmark American Treasury yields stabilized after the previous week reaching their highest value for seven years.

In September, American retail sales headed north because a rebound in car purchases was compensated by the greatest drop in spending at restaurants as well as bars for almost two years.

As a matter of fact, retail sales headed north by up to 0.1% in the month. Financial experts interviewed by Reuters had foreseen a 0.6% rally.

Higher 10-year Treasury gains that rallied shot to 3.26% on Tuesday backed the evergreen buck the previous week. With gains having rebounded to 3.15%, market participants are seeking fresh impetus for US dollar buying.

On Monday, safe haven currencies, including the Japanese yen as well as the Swiss franc managed to head north due to the fact that European equities dived to 22-month minimums, with soaring tensions between Western powers as well as Saudi Arabia contributing to a wild cocktail of fears that affected global equities the previous week.

Saudi Arabia has been pressured since a well-known Saudi reporter a critic of Riyadh and also an American resident, d Jamal Khashoggi suddenlyi disappeared on October 2 having visited the Saudi consulate in Istanbul.

On Monday, the Bavarian sister party of Chancellor Angela Merkel also told that it would support political stability in Berlin having faced big losses in a regional election that their far-right opponents labeled as "an earthquake," which would rock the coalition cabinet.

As some financial analysts pointed out they don’t think that the German election outcome appears to be a big political risk, although it means that political risks in the European Union aren’t fading away.

 

Similar

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera