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Mid-Day Report: Dollar Under Pressure after Retail Sales and PPIDollar is generally lower today and weakness is most clearly seen against Euro and Swiss Franc. The greenback pared back some gains against commodity currencies and reversed against sterling. Some additional selling pressure is seen after release of sales and inflation data. Headline retail sales rose 0.1% in September versus expectation of 0.2%. Ex-auto sales dropped -0.3% versus expectation of -0.1%. PPI dropped more than expected by -0.5% mom, -1.1% yoy, comparing to consensus of -0.3% mom, -0.9% yoy. Core PPI dropped -0.3% mom, rose 0.8% yoy, comparing to expectation of 0.1% mom, 1.2% yoy. Yesterday Governor Daniel Tarullo said that he "wouldn't expect it would be appropriate to raise rates." He also warned that "a premature rise might be harder to deal with than waiting a little bit longer." |
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| Featured Technical Report | |
EUR/USD Mid-Day OutlookDaily Pivots: (S1) 1.1344; (P) 1.1377 (R1) 1.1411; More..... The rebound in EUR/USD is still in progress and focus is now on 1.1459 resistance. We'd still prefer to see resumption of fall from 1.1713 as long as 1.1459 resistance holds. Break of 1.0807 would pave the way back to 1.0461. However, break of 1.1459 resistance will bring another rise through 1.1713 resistance. Focus would then be back to 38.2% retracement of 1.3993 to 1.0461 at 1.1810. |
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Remark: Due to holidays, update will resume on Monday 19 Oct 2015. Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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