In the foreign exchange market last week, investors were buying the U.S. dollar and the global reserve currency rose moderately from its 50-day moving average.
U.S. economic data was mixed again. Retail sales rose 5.4% year-on-year and exceeded market par
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Last week the foreign exchange market was optimistic, as were other segments of the financial markets, prompting investors to move away from safer currencies and depreciate the U.S. dollar, which closed Friday's trading session below a 50-day moving average.
The U.S. dollar experienced negative sentiment last week, but the depreciation was small and the currency index remained above a 50-day moving average.
Economic indicators from the world's largest economy were positive:
Last week the world's reserve currency finally broke through the consolidation channel, reaching its highest level since July. It was the best week for the U.S. dollar since March.
U.S. economic news was positive and mostly in-line with expectations. The preliminar
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Consolidation sentiment prevailed in the foreign exchange market last week:
