Two weeks before the biggest shopping season in the US retailers are hurting after Retail Sales dropped by 2.8% in October. Last month sales decreased by 1.3%. It is no coincidence that retailers such as Circuit City declared bankruptcy after consumers stopped visiting their stores because of the dire economic climate.

The Auto sector continues to lead in shrinking sales with a reduction of 5.5% and electronic stores saw a 2.3% decline. An ever increasing number of American shoppers are concerned with rising unemployment and uncertainty about the Financial Industry.

Filed under: Forex Graph Commentary