USD: Top-Tier US Data To Take The Driver's Seat On Thurs & Fri – Barclays

Barclays Capital FX Strategy Research notes that USD traders will focus on the releases of a round of top-tier US data on Thursday and Friday.

The main prints will be June retail sales (0.1% m/m, core 0.5%), June industrial production and manufacturing (we expect a rebound to a modest 0.2% m/m), and U. of Michigan consumer sentiment (remain elevated but decline slightly to 94.0).

The USD has shown some asymmetric reaction to recent data releases. The markets seem to be looking through positive prints (ie. little reaction to ISM last week amid a weak ADP report, focus on weak wages in NFP) and focusing on data that could break the conviction of the Fed and delay normalization.

As such, the CPI data is likely to be the most important,” Barclays argues.

Source: Barclays Research

The article is published by one of the foremost sources of Forex trading information. Link to the original article above.

from eFXNews http://feedproxy.google.com/~r/Efxnews/~3/RX30m3GFju8/usd-top-tier-us-data-take-drivers-seat-thurs-fri-barclays

from Online Forex Trading Resource
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