Dollar Traders Are Craving A Little Retail Therapy
The dollar has been helped by the turmoil in Egypt and concerns about policymakers' progress - or lack thereof - in addressing the eurozone's troubles. Now traders are turning their attention to the US economy, especially the retail sales report coming out tomorrow. Here's a preview from Kathy Lien, director of currency research at Global Forex Trading:
"The retail sales report is due for release tomorrow and conflicting survey reports from the International Council of Shopping Centers and Johnson Redbook suggests that the weak labor market has prevented much consistency in consumer spending. Strong consumer spending numbers will fuel additional gains in the greenback but a weaker report could send the dollar crashing down."
All in all, it should be an interesting morning for dollar traders.
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