Mixed U.S. figures released earlier turned today's trading session into a volatile one. U.S. markets opened lower and European markets declined rapidly after retail sales figures were released. The Eur/Usd pair reacted immediately by falling 70pips right after the data was released, currently trading at 1.2070, 4 hours to NY trading end.
Core U.S. retail sales published earlier today at 12:30 GMT came well below expectations. Forecast was for 0.1% rise, while figure turned out to be -1.1%. The data indicates that consumers are not spending enough money to create a healthy economic environment. Investors were disappointed to realize the U.S. economy is not yet recovering despite the low interest rates and the fiscal aid programs. Thereafter, Preliminary UoM Consumer Confident released almost 30 minutes after NY trading session opened, came above expectations at 75.5. The positive data boosted the markets up again.
Investors are looking to decide markets direction. Gbp/Usd pair declined currently trading at $1.4543, Crude Oil price traded at the red territory as well. The general market view is reflecting that investors are turning back to safe haven assets while selling riskier currencies. Recent rally might be close to an end, in anticipation for next week news events.