- Don’t be Fooled by the Pullback in the Dollar Because…. - November 14, 2018
- Rise of the USD – How high can it go with - November 14, 2018
- VIDEO – Targets for GBP, USDJPY and EURO - October 5, 2016
- RBA Meeting Preview - October 3, 2016
- How to Trade the Dollar into the Presidential Debate - September 26, 2016
- Here’s How to Trade the Sept ECB Rate Decision - September 7, 2016
- Bank of Canada September Preview - September 6, 2016
- Will August Payrolls Disappoint the Dollar? - September 1, 2016
- Where is the Dollar Headed this Week? - August 29, 2016
- Will Aug NFPs Help or Hurt USD/JPY? - August 4, 2016
Job losses are increasing, but that hasn’t stopped Americans from spending and unfortunately that pretty much sums up American culture. Retail sales increased 1 percent in the month of January despite a sharp increased in jobless claims (Instant Insight on Retail Sales). Consumers took advantage of sharp January discounts and the bankruptcy of Circuit City.
This pace of spending cannot be sustained and skepticism towards future spending has driven the EUR/USD below 1.28. According to our technical analyst at FX360, intraday EUR/USD support is at 1.2785.
Also, here is why retail sales is increasing! This was the line at the Barney’s Warehouse Sale this morning in NY. At 7:11am, 50 people were on line and by 8, the line was down the block and around the corner. Luxury discounters are cutting prices significantly and if these people are lining up to shop today, it leads me to wonder, do they have a job?