02/14/2016 - US retail sales beat again, market-economy gap continues to widen

Forex

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* US retail sales beat again, market-economy gap continues to widen
* Market Movers: Weekly Technical Outlook
* Look Ahead: Stocks
* Look Ahead: Commodities
* Global Data Highlights

After an extremely volatile week, traders are no doubt feeling a bit apprehensive about the future. After all, global stocks have now entered a "bear market" (20% decline in the MSCCI World index), USD/JPY briefly traded down over 1000 pips in less than two weeks and US 10-year treasury yields are approaching all-time lows, a threshold that many global bonds have already reached. Surely all this risk-off trading can be chalked up to declining economic growth? Based on the recent data out of the world's largest economy at least, the answer is "no."

Over the last couple weeks, traders have seen top-tier US economic reports come out relatively mixed. On the worse-than-anticipated side of the ledger, both ISM PMI reports came out below economists' expectations, as did the headline number of jobs in January's Non-Farm Payrolls report and the Q4 advance GDP reading. That said, we also saw strong readings on... Full text »


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