After yesterday’s EUR/USD high peaks dollar is showing a good trend today moving the EUR/USD pair back to below 1.4200 levels hitting bottom 1.4150 mark. That of course can be considered as an ongoing correction for the previous weeks growth of Euro, especially considering that there were too few good news for the U.S. economy on which the dollar growth could have been based.
Monthly retails sales report for the September was among good news — 0.6% growth (0.2% was the expected value).
Producer Price Index came out good to with 1.1% growth against 0.5% expected by analysts. But the core component of PPI was very low — just 0.1% (0.2% expected). So, the big growth of PPI can be accounted on the recent oil price rally.
Among bad news, the business inventories in August added only 0.1%, which significantly below the already pessimistic forecast of 0.3% growth.
Continuing its stagnation and some recent decrease Michigan Sentiment index (preliminary!) showed a decrease from 83.4 to 82.0 points, thus not meeting the optimistic expectations (84.0).
