Excerpt from: GFT Analysts in the News
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| February 12, 2009 | | Fuzzy economic data helps greenback in currency trading | Today has seen some interesting releases in terms of economic data. The two main points of economic data today are big ones:
- Jobless claims: Weekly claims are down a little, but ongoing claims (4 week average) have hit a record high.
- Retail sales: In January retail sales increased, despite an expectation for decline. However, there is skepticism about the reality of rebound in consumer spending.
This economic data is actually contributing to uncertainty in forex trading and leading to risk aversion. The good economic news has been coupled with pessimism, and that is throwing doubt on the state of the economy -- and possible economic recovery.
| Topic Tags: currency trading, dollar forex trading, economic data, forex trading, greenback currency trading, jobless claims, risk aversion, U.S. dollar | |
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