USD Trading Outlook (15-08-2012)
U.S. Dollar Trading (USD) stronger than expected July Retail Sales at 0.8% vs. 0.3% forecast helped the USD rally after analysts questioned whether QE3 will be implemented this year. Bigger than expected increases in the July Producer Price Index (PPI) 0.3% vs. 0.2% forecast will make today’s Consumer Price Index (CPI) numbers even more important. Looking ahead, July CPI is forecast at 0.2% vs. 0.0% previously m/m. August NY FED is forecast at 6.5 vs. 7.39 previously.
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