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Well. last Friday we had an interesting occurrence as there was positive U.S. news and a corresponding dollar reaction as a dramatic slowdown in job layoffs sparked a rally. Throughout the year we have seen the opposite as improvement in the economy was met with rising optimism which led to the unloading of U.S. treasuries which were piled into during the height of the credit crisis. The bullish dollar reaction should you put traders on alert that this relationship may be thinning and therefore should give extra focus to this week's U.S. retail sales report to see how markets react to the news.
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John Rivera is the author of Market Brief, Top FX Headlines, and Forex Trading Weekly Forecast on DailyFX.com.
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