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US Economic Data is Deteriorating
Abstract：Bloomberg estimates that US retail sales in March will see a 8% month-on month-decline, while US GDP will shrink an annualized 2.3% in the first quarter.
Coming to April, more statistics of March and the first quarter of 2020 are being released. With the amount of unemployment aid applicants hitting record level, its certain that US will see soaring unemployment rate, while consumer spending and business investment figures have also shown turning signs. Bloomberg estimates that US retail sales in March will see a 8% month-on month-decline, while US GDP will shrink an annualized 2.3% in the first quarter.
As of the week of April 7th, USD speculative net longs increased from 14,100 a week ago to 15,000 contracts; after the heavy slump in mid-February, USD net longs have been slowly rallying in the past 3 weeks, and currently net longs held by traders are close to the level at the end of January.
S1:98.6 4 R1: 99.26
S2: 98.41 R2: 99.65
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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