I was expecting a higher number than expected, but today’s headline US Retail sales number for November came out at a whopping 1.0% higher, and the core number came out at 1.1% (For a more indepth analysis of today’s reports check out Big Pippin’s Blog). Pretty crazy!!!
Sometimes I wonder why I even bother with fundamental analysis , but it’s all good. I still have a longer term bearish outlook for USD, the timing just isn’t right yet. The BOJ is pretty indecisive at the moment with mixed economic data, so who knows whats going to happen when it comes decision time for Japanese interest rates next week.
So, no trade for today, but we will continue to watch this pair and wait for the right trading opportunity.