USD boosted by positive US retail sales data; traders await taper announcement from US Fed next week
City Index December 13, 2013 3:08 PM
<p>USD continues to gain ground from some good retails sales yesterday over the higher unemployment claims. The main news out was that the US House […]</p>
USD continues to gain ground from some good retails sales yesterday over the higher unemployment claims. The main news out was that the US House has approved a budget deal aimed at averting another shutdown. This will calm a few nerves about more disruption to future data releases in the run up to tapering of QE but still doesn’t solve the debt ceiling issue they have, which is due in early February. The dollar has pushed the yen lower to a five-year low as Asian stocks keep on declining and the tapering possibly next week is gaining momentum.
Today there is little data to affect the market moves, in the US PPI is released expected at 0.0%. the rest will be positioning for next week where FOMC the main event.
Supports 1.3730 1.3680 1.3625 | Resistance 1.3775 1.3835 1.3880
Supports 103.40 103.10 102.50 | Resistance 104.00 104.25 104.75
Supports 1.6300 1.6260 1.6220 | Resistance 1.6370 1.6415 1.6465