Excerpt from: Forex News
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| March 31, 2009 | | Retail sales show gains, could indicate economic turnaround | The U.S. economy might be on the road to recovery, if one looks at retail sales data. Even though consumer confidence remains near historic lows, there has been some gains in spending. The Street reports on the improvement in retail sales since November:
A sharp turnaround in retail stocks since November could be hinting at
an economic recovery sooner than economists are predicting, although
analysts are unsure whether the valuation and sentiment is a good mix
for investors looking to bet on a rebound.
As you can see, there are some misgivings about this turnaround. However, if retail sales are hailing an economic recovery, it is likely to result in more weakness for the U.S. dollar. Things have been volatile the last couple of days, but as things improve on the global economic stage, the greenback is likely to even out a bit -- on the downside.
| Topic Tags: consumer confidence, dollar forex trading, economic recovery, forex trading, global economy, U.S. dollar, U.S. economy | |
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