USD Trading Outlook (16-11-2011)

U.S. Dollar Trading (USD) negative sentiment for most of the trading day was reversed in the US session after October Retail Sales came in at 0.5% vs. 0.3% forecast m/m. This is the fifth month that retail sales have come in positive and show the US economy from a consumption point of view is not as weak as some first thought. Some banks upgraded their expectations of Q4 GDP after the figures were released. In US stocks, DJIA +17 points closing at 12096, S&P +6 points closing at 1257 and NASDAQ +28 points closing at 2686. Looking ahead, October CPI forecast at 0.0% vs. 0.3% previously. October Industrial Output forecast at 0.4% vs. 0.2% previously.