According to the recent retail sales report released by the U.S. Department of Trade, the U.S. retail sales decreased as of February 2016. More specifically, the figures shrank by 0.1% over the reporting period as opposed to a 0.4% drop seen a month before. At the same time, it should be noted that analysts had anticipated a 0,2% drop in February, which is why the actually figures turned out to be slightly better than expected, Market Leader report.
At the same time, the core retail sales index (excluding autos, gasoline and construction materials) increased by 0.3% relative to he previous reporting period. For those of you who don’t know, in January, the index dropped by 0.1%. At the same time, analysts had anticipated a 0,2% increase in February
It seems like Americans started saving more. This is confirmed by the report, which says that in February 2016, lower retail sales were seen in 8 out 13 major retail sales sectors. With that being said, tis seems like Americans prefer to spend less and save more. It least, it was so last month. The prefer to avoid spending the money saved on gasoline due to lower oil prices.
FOREX
In the meantime, Masterforex-V Academy reports that the U.S. Dollar keeps on losing bit of its value against a basket of other major currencies. With that being said, the USD index is currently trading close to 95.80, the trading experts say.
The closest levels of support are the local low of 95,28 as well as MF pivot 93,85.
The closest levels of resistance are the local high of 100,60 as well as MF pivot 99,86.
