The afternoon reports on nominal and core retail sales in the United States adds to recent notions of an economy not entering a second recession, as many pundits had expected. Employment data these past few weeks have shown the US economy adding jobs in greater numbers this summer; today's retail sales data bolsters this data by showing consumers boosting their spending levels, despite frantic expectations of economic turmoil .
The news has helped the US dollar ( USD ) hold value where it may have plummeted instead. Swings in stock market values this week have made forex trading more interesting, given the heightened volatility that springs forth during a period of flight into Treasuries and Gold. Today's data strengthens the idea that US Treasuries will rise, likely pushing the USD higher in today's late trading.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.