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EURUSD Intra-Day Fundamentals - USD Into Retail Sales

14 October 2015, 09:44

Sergey Golubev

1 441

BNP Paribas made fundamental forecast concerning Retail Sales news event for today:

"They expect only a flat reading in total retail sales although the control group sales should come in at a more respectable pace of 0.3% m/m. They also expect softer producer prices ahead of what should be similarly soft headline CPI numbers on Thursday."
"That said, the September payrolls report and dovish Fed communications have already lead to an even further pullback in US rates, with the amount of priced in Fed tightening now in line with the most dovish FOMC policymakers."
"This, as well as lighter positioning, should make the USD less vulnerable to bad news."

From the technical points of view - the price is located to be above 200 period SMA and above 100 period SMA for the bullish breakout: the price broke key resistance levels in intra-day basis and stopped near 1.1469 level. If the price will break this 1.1469 resistance level from below to above so the bullish breakout will be continuing, otherwise - ranging bullish.