FXstreet.com (Córdoba) - The Dollar rose across the board on Friday and ended the week on a strong note. A better-than-expected retail sales data in the U.S. favor Greenback. The Dow Jones finished with an increase of 0.63% and the Nasdaq fell 0.03%. Gold and crude oil fell to fresh lows hit by a stronger Dollar. Treasuries also extended its decline to fresh mutli-month lows.
Markets rose worldwide with important gains in Asia and Europe. In the U.S. the rise was marginally and stocks ended the week practically unchanged from last Friday. Dollar rose for the second week in a row, repeating last Friday behavior when it rallied after the employment report.
The Wells Fargo Research Team comments: Dollar's positive reaction to the firm US November retail sales report appears to have mirrored the post-data uptick in bond yields. Going forward, job market data remains key for Fed policy expectations next year and hence the dollar. Meanwhile, the relationship between risk appetite and the yen remains a fairly robust one, as positive data out of China and the US today is weighing on the Japanese currency. This week will also be important from a technical perspective as the greenback is looking to close above its 50-day moving average - a likely positive signal going forward.