Democratic Underground - Dollar flexes muscles (also Retail Sales Numbers)

Dollar flexes muscles (also Retail Sales Numbers) [View All]

JCMach1

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Wed Apr-14-04 04:43 AM
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Dollar flexes muscles (also Retail Sales Numbers)

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The dollar extended its rally against major counterparts yesterday after a strikingly strong US retail sales report confirmed recent indications of robust economic recovery.

The retail sales data from the US Department of Commerce showed a climb of 1.8 per cent in March, easily topping economists' forecasts for a rise of 0.6 per cent.

In addition, February US business inventories climbed 0.7 per cent, higher than expectations and signalling stronger than expected economic growth, analysts said.

"The stronger-than-expected retail sales and inventories numbers continue to highlight the strength in the first quarter GDP (gross domestic product)...
http://www.gulf-news.com/Articles/Business2.asp?ArticleID=117927

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Dollar flexes muscles (also Retail Sales Numbers) [View All]