{"id":45899,"date":"2013-07-15T08:54:00","date_gmt":"2013-07-15T08:54:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-higher-ahead-of-retail-sales-data\/45897\/"},"modified":"2024-08-25T18:09:08","modified_gmt":"2024-08-25T18:09:08","slug":"forex-market-update-dollar-higher-ahead-of-retail-sales-data","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-higher-ahead-of-retail-sales-data\/45899\/","title":{"rendered":"Forex Market Update: Dollar Higher Ahead of Retail Sales Data"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p>The U.S. dollar traded sharply higher against most traded currencies on Monday as investors waited for closely watched, U.S.\u2019s retail sales data for the month of June, which is expected to show a solid growth.<\/p>\n<p><span id=\"more-45899\"><\/span><\/p>\n<p>The retail sales are expected to show a growth of 0.9% in June, and 0.6% (excluding auto sales), according to MarketWatch\u2019s poll. Strong retail sales data could prompt the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> to start winding down its economic stimulating measures sooner than expected.<\/p>\n<p>The dollar index, a gauge on U.S. unit\u2019s performance against a basket of six major traded currencies, rose 0.3% to 83.189, up from its previous week\u2019s low of 82.418.<\/p>\n<p>\u201cThe Fed has maintained (that winding down of bond buying program) is data dependent and so retail sales data today is key,\u201d said Paul Robson, a currency strategist at RBS, according to Reuters.<\/p>\n<p>The euro was last down 0.52% to trade at $1.3006.<\/p>\n<p>However, gains are likely to be capped as investors are eyeing the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> Chairman, Ben Bernanke\u2019s testimony to the Congress later this week.<\/p>\n<p>\u201cWe still buy into the idea of relative outperformance of the U.S. economy and that support&#8217;s the dollar. But I don&#8217;t think we will get another kicker higher on retail sales or on Bernanke&#8217;s testimony,\u201d added Robson.<\/p>\n<p>Meanwhile, the Australia dollar traded higher on Monday. The Commodity linked currency was supported by less-than-feared slowdown in the second quarter GDP growth in China. China\u2019s GDP rose 7.5% in the second quarter (Y-O-Y), down from 7.7% growth in the first quarter but in-line with economists\u2019 expectation.<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-higher-ahead-of-retail-sales-data\/45899\" data-title=\"Forex Market Update: Dollar Higher Ahead of Retail Sales Data\"><\/div>\n<p><script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20130719170027js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> <\/p>\n<p><!-- AddThis Button BEGIN --><\/p>\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a><br \/>\n<a class=\"addthis_button_preferred_2\"><\/a><br \/>\n<a class=\"addthis_button_preferred_3\"><\/a><br \/>\n<a class=\"addthis_button_preferred_4\"><\/a><br \/>\n<a class=\"addthis_button_compact\"><\/a><br \/>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n<p><script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script><br \/>\n<!-- AddThis Button END --><\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/u-s-stocks-down-in-mid-day-trading\/46037\"><br \/>\nU.S. Stocks Down in Mid-Day Trading<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-edge-lower\/46032\"><br \/>\nStocks Edge Lower<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/dollar-edges-lower-against-yen\/46025\"><br \/>\nDollar Edges Lower Against Yen<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-up-silver-prices-slip-2\/46021\"><br \/>\nGold Prices Up, Silver Prices Slip<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stock-futures-weighed-down-by-poor-results-from-tech-giants\/46019\"><br \/>\nStock Futures Weighed Down By Poor Results From Tech Giants<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/advanced-micro-devices-swings-into-a-loss-in-q2-amd\/46016\"><br \/>\nAdvanced Micro Devices Swings into a Loss in Q2 (AMD)<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/chipotle-mexican-grill-lifts-fy-2013-comparable-sales-outlook-beats-q2-estimates-cmg\/46015\"><br \/>\nChipotle Mexican Grill Lifts FY 2013 Comparable Sales Outlook, Beats Q2 Estimates (CMG)<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20130719170027im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><!--script type=\"text\/javascript\">\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\n<\/script>\n<script type=\"text\/javascript\"\nsrc=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script--><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. dollar traded sharply higher against most traded currencies on Monday as investors waited for closely watched, U.S.\u2019s retail [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[6,3439],"tags":[],"class_list":["post-45899","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hot-stocks-to-watch","category-forex"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/45899","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=45899"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/45899\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=45899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=45899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=45899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}