The US is going through an exceptional economic period currently, with the US Dollar gaining strength on the money markets against most leading fiat currencies, and with unemployment rates at an all time low, there is a lot to celebrate if you are a US citizen.
However, from a trading point of view, you do need to keep your eyes peeled for any news stories, much more so related to market data in any business sector that is likely to have a negative or for that matter positive effect on the value of the US Dollar.
Rarely does a weekday go by without a handful of different market and business sectors in the USA releasing up to the minute data regarding how those business and market sectors are doing, and by pre-empting those reports you could cash in by placing all manner of trades on the value of USD paired up with any other currency.
You do of course need to work out whether any market data report released from the USA will have a positive or negative or even no effect at all on the value of US Dollars, but as soon as you do get the hang of doing so you can often cash in by placing all manner of Forex related trades.
US Retail Sales Data
Without a shadow of a doubt, one very vital report that will be released today is in regards to the US retail sales, and that could have an instant effect of the value of USD.
Having studied lots of reports today from industry experts they are expected today’s figure to be an increase of 0.20% which is impressive as last period is showed an increase of 0.50%.
Empire State Manufacturing Index
Some additional reports that are due out today include the all important Empire State Manufacturing Index which is predicted to be 20.3 compared to the previous figure of 22.6, also the Prelim Nonfarm Productivity q/q figure is expected to be around 2.50% compared to its previous percentage of some 0.40%.
It is always worth looking for the Prelim Unit Labor Costs q/q figures, which are going to be released today, and as far as what figures that market data is expected to show most commentators are expected 0.40% to be the figures compared to the last period being some 2.90%.