U.S. Dollar Strengthens On Strong Retail Sales Data
17 Settembre 2024 - 3:50PM
RTTF2
The U.S. dollar firmed against its major counterparts in the New
York session on Tuesday, as the nation's retail sales unexpectedly
crept higher in the month of August.
Data from the Commerce Department showed that retail sales
inched up by 0.1 percent in August after surging by an upwardly
revised 1.1 percent in July.
The uptick surprised economists, who had expected retail sales
to dip by 0.2 percent compared to the 1.0 percent jump originally
reported for the previous month.
Excluding a slight pullback by sales by motor vehicle and parts
dealers, retail sales still crept up by 0.1 percent in August after
climbing by 0.4 percent in July. Ex-auto sales were expected to
rise by 0.2 percent.
Investors await interest rate decision from the Federal Reserve,
due on Wednesday.
The Fed is widely expected to lower interest rates, but there
remains some debate about the size of the rate cut.
The greenback edged up to 1.1111 against the euro and 1.3152
against the pound, from its early nearly 2-week lows of 1.1146 and
1.3229, respectively. The currency is likely to locate resistance
around 1.06 against the euro and 1.27 against the pound.
The greenback climbed to a 5-day high of 141.99 against the yen
and a 6-day high of 1.3617 against the loonie, off its early lows
of 140.31 and 1.3580, respectively. The currency is seen finding
resistance around 147.00 against the yen and 1.38 against the
loonie.
The greenback advanced to 0.8477 against the franc, up from an
early 6-day low of 0.8429. If the greenback rises further, it is
likely to test resistance around the 0.92 region.
The greenback rose to 0.6178 against the kiwi, reversing from an
early nearly 2-week low of 0.6211. Immediate resistance for the
currency is seen around the 0.60 level.
In contrast, the greenback fell back against the aussie and was
trading at 0.6752. This may be compared to an early 2-week low of
0.6768. The currency is poised to challenge support around the 0.69
level.
Grafico Cross US Dollar vs Yen (FX:USDJPY)
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Grafico Cross US Dollar vs Yen (FX:USDJPY)
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