Retail Sales data from the US in October increased by 0.8% m / m (against 0.5% expected and 0.1% prior), with the exception of cars 0.7% however, excluding auto fuel, the increase was only 0.3%. (against 0.4% expected and 0.0% prior). The Core Retail Sales amounted to 0.3% (against 0.4% expected), and after the revision, the dynamics in the previous period turned out to be weaker (down from 0.5% to 0.3%). The Philadelphia Fed index disappointed the global investors, falling to 12.9 in November from 22.2 points a month ago. The expected figure here was at the level of 20.0. The reading of the NY Empire State index is positive as it increased to 23.3 points from 21.1 points (against 20.0 expected points). The number of newly registered unemployed amounted to 216k (threshold: 213k, 214k prior). After the data, there is no visible movement on the cross with the dollar as the overall data meaning is mixed. No decisive movement was made from either USD bulls or bears.
Let's now take a look at the US Dollar Index technical picture at the H4 time frame. The technical support zone between the levels of 96.68 - 96.7 still works well, so the bulls are using it as a level to bounce from in order to test the techncial resistance aroud the level of 97.42. The market conditions remains neutral with a slight bearish bias. The momentum is neutral to bullish. The larger time frame trend remains up.
