US retail sales surge 5.3% in January vs. 1.2% estimate | Crypto Craft

  • US retail sales surge 5.3% in January vs. 1.2% estimate

    From cnbc.com

    Consumers flocked to spend their stimulus checks in January, sending retail sales for the month up 5.3% in a blockbuster start to 2021, according to a government report Wednesday. Economists surveyed by Dow Jones were expecting a rise of just 1.2%. A month after Congress approved a $900 billion additional stimulus package on top of the $2.2 trillion approved earlier in 2020, shoppers were armed with $600 checks they used to buy a variety of goods. The jump in consumer spending came at a time when expectations for growth in the early part of 2021 were muted as the economy continued to shake off the pandemic-induced ... (full story)

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ar007
Feb 17, 2021 9:19am
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don't be fooled, it will pump s&p, but usd will be pressed down in a longer run
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Takisd
Feb 17, 2021 11:06am
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Quoting fxsport
{quote} A little premature on that prediction young padawan! Let's see what this looks like in March 2021 shall we?
Oh sweetie, if only you knew.
Price inflation is already high at the supermarkets here. Inflation is here, and its likely here to stay. All that free money is going to collapse credit markets when there is interest owed on it.
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fxsport
Feb 17, 2021 10:22am
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Quoting ar007
USD recovery, I agree, but why s&p down? what is bad for it? I think 1.9T plan still will be pushed. So USD recovery probably short live event...
This will give ammo to those who only want a smaller package passed; no matter what the stimulus package is still a way off and today's data doesn't make it any sooner
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fxsport
Feb 17, 2021 10:23am
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Quoting Takisd
inflation is back..... time for the greatest correction in history.
A little premature on that prediction young padawan! Let's see what this looks like in March 2021 shall we?
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fxsport
Feb 17, 2021 10:25am
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Quoting umbrella man
{quote} How come? Do you live in the US? Economy is reopening and the need for USD is increasing significantly. USD gonna run for awhile while other industrial nations will still struggle.
I live in the USA - Florida in fact where we've BEEN OPEN for quite some time.

USD is a risk on/risk off currency.

Right now it's STILL risk on so USD falls until the next "risk" when everyone runs to the USD.
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RideTheWave
Feb 17, 2021 11:56am
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Quoting Takisd
{quote} Oh sweetie, if only you knew. Price inflation is already high at the supermarkets here. Inflation is here, and its likely here to stay. All that free money is going to collapse credit markets when there is interest owed on it.
Oh sweetie you gotta stay in your lane bubby.

I can't stand terrible logic.

So was the money free or not?

Stop trading markets, you're going to go broke quick
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kingleeny
Feb 17, 2021 7:47am
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you all know that USD was waiting and knew it was going to happen. Everyone saw how EUR was trading all day today
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umbrella man
Feb 17, 2021 10:08am
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Quoting ar007
don't be fooled, it will pump s&p, but usd will be pressed down in a longer run
How come? Do you live in the US? Economy is reopening and the need for USD is increasing significantly. USD gonna run for awhile while other industrial nations will still struggle.
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umbrella man
Feb 17, 2021 7:09pm
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Quoting fxsport
{quote} I live in the USA - Florida in fact where we've BEEN OPEN for quite some time. USD is a risk on/risk off currency. Right now it's STILL risk on so USD falls until the next "risk" when everyone runs to the USD.
Risk on/off is only one of the many factors you should consider. The weight of these factors changes frequently. Trade wisely.
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Trader#B90E
Feb 17, 2021 8:02am
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USD/CAD - great buy yesterday; USD/CHF same - although the latter is doing better than the first.
AUD, NZD, EUR and GBP vs USD - clearer signs for some than others, but good sell opportunities.
News don't count as much as price action.
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Trader#86E7
Feb 17, 2021 9:05am
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It is amazing how one or two data points gets everyone so excited. Sure, with some research, projections can be made to back any conclusions made at any point about the course of some variable (albeit with the usual risk of significant error given too small a sample size, and ignoring the complexities of interaction with other variables and thus potential effect size), but a few data points does not a trend make and few (in retail) have the skills, time and resources for such research. Yet we tend to run with what we see spot. I would be more excited about chart reads, than I would on data for the above reasons. Still I guess we are (i.e traders) an excitable bunch and the only thing that appears to calm us down routinely is a blown account. But of course there are lot of experienced folk about. Trade with care though - there is a pandemic on and can change the course of things suddenly.

The Crow (_-_)
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ericyerome
Feb 17, 2021 9:08am
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Good data but still not enough to knock off eur bull
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Bakker
Feb 17, 2021 7:40am
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Why not save it instead?
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Bakker
Feb 17, 2021 7:43am
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Will the 61.8Fib stop the $'s advance against Chf??
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Bakker
Feb 17, 2021 7:44am
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It touched it as we speak.
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harcos
Feb 17, 2021 7:53am
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Quoting kingleeny
you all know that USD was waiting and knew it was going to happen. Everyone saw how EUR was trading all day today
Yes it is fulfilling some nice predictive chart patterns
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Bakker
Feb 17, 2021 7:56am
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Bears stood their ground, it seems.
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Bakker
Feb 17, 2021 7:59am
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Quoting harcos
{quote} Yes it is fulfilling some nice predictive chart patterns
Yeh, NZD had a very nice pattern, a quick 20p there.
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sharingan9
Feb 17, 2021 9:15am
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so many egos lol
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Tony112
Feb 17, 2021 10:16am
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Russell 2000 and other indexes are about to halt
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Takisd
Feb 17, 2021 8:27am
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inflation is back..... time for the greatest correction in history.
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kingleeny
Feb 17, 2021 8:15am
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Well today is the day if USD can break through some resistance, it can really follow through on a strong USD recovery that's being attempted for the last 2 weeks.
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pridolfx
Feb 17, 2021 11:03am
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Attached Image (click to enlarge)
Click to Enlarge Name: IMG-20210217-WA0000.jpg Size: 59 KB
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SterlingSnip
Feb 17, 2021 9:11am
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market think rate hike pumping usd , hilarious
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ar007
Feb 17, 2021 8:25am
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USD recovery, I agree, but why s&p down? what is bad for it? I think 1.9T plan still will be pushed. So USD recovery probably short live event...
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rashidcm2004
Feb 17, 2021 7:53am
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fantastic. keep going
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Trader#25D1
Feb 18, 2021 1:52am
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Recent stimulus is just "help". It's not a consistent source for inflation. Wages is.
But still no wages, no jobs.
Government spending can be harmful generating systemic inflation only if/when full employment.
Which is not the case so far.
Therefore no real inflation in sight. USD is doing good on charts.
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Trader#25D1
Feb 17, 2021 7:38am
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Splendid! Inflation may soon become real.
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Trader#25D1
Feb 17, 2021 8:24am
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Strong news lead. Price follows.
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