Forex: EUR/USD dips to weekly lows on US sales

The single currency dropped to weekly lows in the proximities of 1.2970 after US retail sales posted a monthly expansion of 1.1% in February, surpassing the median at +0.5% and January’s 0.1% advance. Stripping the automobile sector, sales also exceeding expectations, growing 1.0% vs. +0.5%.

At the moment, the cross is losing 0.39% at 1.2974 and a drop below 1.2980 (low Mar.11) would accelerate the decline to 1.2956 (low Mar.8) and then 1.2929 (low Dec.11).
On the upside, resistance levels align at 1.3075 (high Mar.12) ahead of 1.3128 (MA100d) and then 1.3135 (high Mar.8).

Mar 13, 2013

Forex: USD/CHF rallies towards 0.9500 on US data

The USD/CHF rallied on better than expected US retail sales, from 0.9450/60 area and currently just below 0.9500. Retail sales in the US rose 1.1% in February, surprising the 0.5% expectations. January data was revised higher, from 0.1% to 0.2%. Ex-auto data surprised at 1.0%, beating 0.5% consensus, and saw the January figure being revised higher, from 0.2% to 0.4%.

Forex: USD/JPY pops up above 96.00 after US retail sales

The dollar strengthened and rose toward daily highs versus the yen, erasing intraday losses in the process, after data showed US retail sales more than doubled expectations in February.