Retail sales not as strong and revisions lower. The PPI showed pipeline price pressures increasing
The US retail sales data was not as strong and that has the dollar inching lower. PPI prices o the other hand were higher than expectations.
The EURUSD remains within the range for the day. It went up about 10 pips on the data. The 200 hour MA at 1.0660 is above. The high price extended to 1.0656 but is back down toward pre-release levels at 1.0645 currently.
The GBPUSD was pushing to new session highs prior to the report and have extended higher by about 2 0pips (from 1.2687 to 1.2707 high). The base for this last move lower (from the London morning session) stalled just ahead of the 100 hour MA at 1.2632. That has given the pair more of a bullish bis (alss back above the 200 hour MA at 1.2653. it currently trades at 1.2692, near the level just prior to the release.
The USDJPY fell to new session lows at 114.76 and further away from the 100 hour MA at 114.989,but the price has rebounded back toward that 100 hour MA and the pre-release price area. The low for the USDJPY approached the key 100 week MA which this week comes in at 114.66. The low reached 114.76.
It seems the market is happy to stay range bound as the FOMC decision is awaited.
