8:30am (NY Time) US Core Retail Sales Forecast 0.1% Previous 0.6%
8:30am (NY Time) US Retail Sales Forecast -0.1% Previous 0.5%
ACTION: USD/JPY (CORE) BUY 0.7% SELL -0.%
We’ll be focusing on the Core Retail Sales figure out of U.S. today. Since we have both retail sales (healine and core, also know as ex auto) scheduled to be released at exactly 8:30am, we should concentrate on the Core Release as it’s a better picture of the retail activities. However, it’s important to make sure there is no conflict between both releases or we should just stay out of the market until a new direction has been established.
As the market is currently showing strong USD and weak JPY. With a strong release with this indicator we could see similar reaction compared to last week’s NFP, driven mostly by risk appetite. Should this release disappoint, then JPY may gain across the board as market dials down a notch on the recent USD strength.
DEFINITION:
“(Retail Sales Core) Derivative of Retail Sales that excludes the Automobile Sales component. Automobile Sales make up roughly 25% of Retail Sales, but they can be very volatile from month to month and can distort the picture. Retail Sales with the exclusion of this volatile component is thought to be a better indicator of the underlying trend in consumer spending.”
Related posts:
- US Core Retail Sales m/m 12/11/09
- US Core Retail Sales m/m 11/16/09
- US Core Retail Sales m/m 10/14/09
- US Core Retail Sales m/m 09/15/09
- Australia Retail Sales m/m 03/01/2010
- Australia Retail Sales 03/30/2010
- UK Retail Sales m/m 02/19/2010
- New Zealand Retail Sales m/m 11/11/09
- Forex Trade Plan For NZ Retail Sales m/m 07/13/10
- UK Retail Sales 03/25/2010
