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US Dollar Finds Support on Better-Than-Expected U.S. Economic News

From barchart.com

The dollar index on Wednesday rose by +0.34%. The dollar Wednesday rose moderately and found support on better-than-expected U.S. economic news on Oct retail sales and the Nov Empire manufacturing survey. Also, higher T-note yields on Wednesday benefited the dollar. Wednesday’s rally in stocks curbed liquidity demand for the dollar and limited the dollar’s gains. Wednesday’s better-than-expected U.S. economic news was supportive of the dollar. Oct retail sales fell -0.1% m/m, a smaller decline than expectations of -0.3% m/m. Also, Oct retail sales ex-autos unexpectedly rose +0.1% m/m, stronger than expectations of a ... (full story)

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  • Category: Fundamental Analysis