Forex Flash: US Retail data could disappoint - BTMU

FXstreet.com (Barcelona) - Derek Halpenny, European Head of Global Markets Research at the Bank of Tokyo Mitsubishi UFJ notes that the slight upside bias mentioned in EUR/USD mostly reflects his view that today´s retail sales data could disappoint.

He writes, “The NFP report revealed 24k of job losses in the retail sector while there has yet to be much evidence of a hit to sales from the rise in gasoline prices from mid-January to March. Also the early March consumer confidence readings were weak. That could mean the dollar underperforms in the aftermath of the data.”