Corporate foreign exchange news

Foreign exchange news: A look at the dollar this week

Monday, 07 December 2009 09:19:18 GMT

Published by Jamie Jemmeson
The fundamental outlook for the dollar in the week ahead is bullish, Daily FX has declared.
After last week's stronger than expected non-farm payrolls data - which showed job losses of 11,000 in November compared to predicted falls of 125,000 - confidence in the dollar is likely to grow further over the next seven days.
Key data due out this week includes monthly consumer credit statistics later today (December 7th), unemployment claims data due out on Thursday and retail sales figures on Friday.
Clarifying the site's outlook, forex market strategist Terri Belkas wrote: "The retail sales index excluding autos is projected to increase by 0.5 percent, but looking at the International Council of Shopping Centers report, the results could be disappointing."
The index referred to by the forex analyst posted a 0.3 per cent decline in store sales during November compared to the same period in 2008.
Although apparel and department stores dragged figures down in November, Black Friday is forecast to have boosted electronic sales.
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