US equities rebounded today but the lack of a meaningful recovery in currencies is a sign that FX traders do not share the optimism. The greenback traded higher on the hope that trade tensions will hurt other countries more than the US but it would be a mistake to think that US consumers and businesses will escape the pain. Wednesday’ retail sales report is one of the most important pieces of US data scheduled for release this week. Spending is essential to the economy because without spending, there’s no growth and without growth, there’s no jobs. However this month’s retail sales report could be dismissed quickly ... (full story)