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Barchart
Barchart
Rich Asplund

Dollar Gains on Strong-Than-Expected US Economic News

Donald Trump United States BOJ Gold US Federal Reserve NAHB

The dollar index (DXY00) today is up by +0.21%.  Stronger-than-expected US economic news today is boosting the dollar after June retail sales remained flat and the June import price index ex-petroleum unexpectedly increased.  The dollar also has support from the improved chances that Donald Trump will win the presidential election in November, as Trump’s fiscal and trade policies are seen as inflationary and hawkish for Fed policy.  The dollar fell back from its best levels after the July NAHB housing market index unexpectedly fell -1 to a 7-month low.

US June retail sales were unchanged m/m, stronger than expectations of a -0.3% m/m decline. Also, June retail sales ex-autos rose +0.4% m/m, stronger than expectations of +0.1% m/m.

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