Burning outlook: US retail sales at 13.30 London time.
Retail sales for July: Forecast + 0.3%, previous value was -0.2%.
The forecast range is +0.2 + 0.5%.
Sales without cars + 0.3%.
Sales without cars and gasoline + 0.4%.
As you can see, the data is expected to be strong, in support of the US and dollar markets.
In general, sales data are not the first order of importance, and not often "move the market." However, everything depends on the context:
1. The market is "stagnant" - two weeks without important news. Formed ranges.
2. There are several news at once at 13.30 London time. In addition to the report on sales, the index of business activity in New York and the price of imports / exports increases the chance for a strong move.
The situation for EUR/USD: The range with the boundaries of 1.1685 from below and the 1.1850 from the top appeared. We are waiting for the exit.
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