For the U.S. consumer the economic boost provided by lower gasoline costs is hitting at the perfect time. The Federal Reserve just ended their extensive QE stimulus program at the end of October with hope the economy could stand on its own.
What’s likely adding to investors’ nervousness is whether the latest reading for retail spending marks the end of the near 45-degree rise since March 2009 that coincides with the onset of the bull market.
The dollar slid to a three-week low against the yen before data tomorrow that economists said will show U.S. retail-sales growth slowed, strengthening the case against faster tapering by the Federal Reserve.
The dollar rose for a second day after retail sales gained more than forecast last month, adding to speculation the Federal Reserve will move to trim its $85 billion of monthly asset purchases at a meeting next week.