Key US retails sales figures released today
The US dollar struggled yesterday with investors apprehensive ahead of today’s retail sales figures. The most significant loss was seen against the Japanese yen, where the US currency fell to a three week low. Some economists anticipate that today’s retail sales figures will show a reduction in growth for the month of December, which in turn would reduce the likelihood that the Federal Reserve will taper its quantitative easing program once again at this month’s central bank meeting. Overnight we saw the Federal Budget Balance produce the largest budget surplus on record for the month, but this had little influence on the market. Aside from the aforementioned retail sales figures, we also have business inventories data and two members of the Federal Open Market Committee (FOMC) will be speaking today. Investors will closely analyse the comments made by the FOMC members for clues to future momentary policy. Get in touch with your trader now for the latest US dollar rates.