Plummeting Oil Has Big Impact On Retail Sales, Currencies

As oil continues to fall in price, and the dominate currency used to trade the product, the U.S. dollar, continues to rise in price, as the impact is being felt across the economic landscape. October retail sales jumped 0.3 percent, slightly ahead of market expectations and much stronger than September’s slack -0.3 percent drop, in part this slight increase is being attributed to a drop in oil prices. Plunging oil & gas prices are actually helping the middle-class While consumer spending continues to be dragged down by modest annual wage growth, which some economists point to as the real sign…