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US Dollar Index Fell amid Flurry of Data

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Jan. 18 2016, Updated 8:31 a.m. ET

US Dollar Index fell by 0.15%

The US Dollar Index measures the strength of the US dollar against other major currencies. It recovered slightly. It ended the day with a less compounded fall of 0.15%. The US Dollar Index fell to a low of 98.32 after the release of disappointing retail sales data. However, the US Dollar Index staged a comeback towards the end of the day. Consumer sentiment came out on a positive note. The US Dollar Index ended the day at 98.95. The euro’s strong trade balance early in the day also had a negative impact on the US Dollar Index.

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Domestic data came out on a mixed note

The Census Bureau published the retail sales for December on January 15, 2016. The core retail sales were below the forecasts at -0.1%—compared to expectations of a 0.2% rise. The Producer’s Price Index was according to expectations at 0.2%. The report also indicated a fall in capacity utilization to 76.5. Later in the day, the University of Michigan published the prelim consumer sentiment for January at 93.3. It was above the expectations of 92.7.

Impact on the market

Regarding ETFs, the broad-based SPDR S&P 500 ETF (SPY) fell by 2.1% on January 15, 2016. The WisdomTree Bloomberg US Dollar Bullish Fund ETF (USDU) encompasses developed economies and emerging market currencies. It rose by 0.36%.

Banking stocks in the US market were trading on a positive note on January 15, 2016. JPMorgan Chase (JPM) shed the previous day’s gains and fell by 2.0%. Citigroup (C) had a heavy fall of 6.4%. Wells Fargo (WFC) was following a similar negative trajectory. It fell by 3.6%.

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