forex Major Holiday Retail Data in the US

[Anzo Lim 0]

https://jump.wikifx.com/83348CF26389B46D

US will enter the holiday shopping season on November 29^th and although some people expect the sales this season to break the trillion-dollar mark unprecedentedly, other negative factors such as shortened term, market volatility and a traditional retail sector facing much difficulties may still limit holiday sales growth.

The holiday season from Thanksgiving to Christmas is 6 days shorter compared with last year, which means both consumers and businesses will have to quicken their pace in shopping/selling in this year’s shortened holiday season.

According to US Commercial Department, US retail sales was up 0.3% in October, yet consumers’ purchase of big-ticket appliances have dropped, which dampens the outlook for a strong holiday shopping season. 

October’s core sales (energy and other consumption excluded) grew by only 0.2%, less than the 0.4% market expectation. As US consumers cut back on purchase of large appliances and clothing, market expectation for the holiday shopping season may be tempered. Of the 13 sub-indicators for October’s retail sales, 7 have experienced a decline,indicating an expanding sluggish trend of the retail sector.

Daily pivot points for USDX: 98.06---98.20

S1:97.95               R1: 98.45 

S2: 97.63              R2: 98.63

Edited November 25, 2019 by Anzo Lim