For Traders

Analytical Reviews

13.01.201712:08 Forex Analysis & Reviews: Global macro overview for 13/01/2017

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Global macro overview for 13/01/2017:

The US Retail Sales data for all-important December Christmas sales are scheduled for release at 01:30 pm GMT today. Retail sales are expected to have increased by 0.7% from the previous month (0.5% increase excluding autos) – a big jump from November's 0.1% increase. The wage growth, low unemployment, positive customer sentiment, record high credit card spending, higher income is all contributing to high retail sales. The yearly uptrend in retail sales is clear and it climbed 6% since 2012. In conclusion, another set of good data from the US is being expected today, which might boost the US Dollar again.

Let's now take a look at the US Dollar Index technical picture in the daily time frame. Since the top at the level of 103.83 the market is in the corrective cycle that possibly targets the level of 100.53. When this level is hit, a larger rebound or trend resumption is expected.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.