USD and Oil in focus

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The USD lifted again against all majors, as US retail sales m/m came in strong at 0.5%, in line with expectations. At the same time the previous month was revised to 1.3%, which was another strong indicator about the US economy and the pace of growth that it’s going through. This could have some roll on effects for inflation and will also be viewed positively by the FED. At the same time this rise makes sense given the recent jump in consumer credit, so markets will be expecting further strong signs from consumer markets in the coming months. Manufacturing also lifted to 22.6 in the Empire… Read More

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