Nerves Dominate Before U.S. Retail Numbers

The dollar was set for a second week of gains on Friday while stock markets fell ahead of a handful of major U.S. and Chinese data releases which may do little to settle growing nerves over the outlook for the world’s two biggest economies.

A poor performance on Wall Street on Thursday, driven by another big drop in Apple shares, seeped into Asian and European markets, down around half a percent across the board.

Doubts over growth in Europe, the financial stability of China and the U.S. Federal Reserve’s ability to raise interest rates have dominated the past month and U.S. retail sales and Chinese releases over the next 24 hours will be important new pieces of the picture.

Reuters

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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam