The Dollar Index took a payroll contraction on August 7, a cooler consumer price reading on August 12 and a flat producer price reading on August 13 without surrendering its range. Friday’s data finally did it. July retail sales contracted 0.6% against a consensus for a 0.1% gain, preliminary August consumer sentiment landed at 51 against a 54.5 consensus, and the index opened at its session high just short of 100.00 before piercing 99.50.
The print the Dollar was not braced for
The rate story had already turned before Friday and the currency had declined to follow it. Employers shed jobs in July, consumer prices cooled and producer prices…
Read the full article at FXSTREET.COM
