Tina FX
All posts from Tina FX
Tina FX in Tina FX,

Are investors expecting tapering to start soon?

Today after the Retail Sales Data for US came out USD strengthened almost against every other currency. Although Retail sales growth decreased to .2% as compared to .6% in the month of June but core retail sales which excludes Automobiles increased to .5%. Now the question is whether the data is strong enough to support that Fed will start tapering in September. Today’s movement shows that investors are pretty sure that Fed will end up its QE program soon the only question is when. EUR went down almost 80 pips, whereas GBP followed a sideways movement. Gold also reacted to positive US data and went down after the data came out. This week also there is couple of news for US like PPI, Unemployment Claims, Manufacturing Index, and Consumer Sentiments. So according to me this week Dollar is going to move according to the fundamentals.