The US retail sales report has failed to come up to the forecasts given by numerous analysts. The retail sales gained only 0.4% in January, though analysts had anticipated a 0.7% increase.
The sales of fuels increased by 1.45 in January, thus showing the highest gain since March 2011. The sales of electronic devices increased by 0.5%. January’s car sales declined by 1.1%.
The situation in the US labor market has been improving over the last few weeks. The manufacturing production keeps growing. That is why investors fell less concerned about the US economic recovery. However, the eurozone crisis is still the major threat for the US economy.
According to the Department of Portfolio Investments of , the USD index futures is being traded between 79 and 79,5. The reverse upthrust from 79.2 suggests strong support. That is why the price will more likely test the current level of resistance.
