Article Highlights

  • Nikkei up by 0.01% for the day
  • New Zealand ANZ commodity prices down by 4.4%
  • German retail sales and unemployment change data due
  • Euro zone CPI estimates to show weaker inflationary pressures?
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No data? No problem! Not even the lack of top-tier data in the Asian trading session was enough to stop forex pairs from moving around, with the U.S. dollar chalking up mixed reviews. EUR/USD is up 0.17% so far, GBP/USD is down 0.10%, and USD/JPY is up 0.54%.

The Nikkei marked a 0.01% uptick for the day as risk appetite improved in the past few hours. However, commodity currencies were unable to benefit from this, as ANZ reported a 4.4% decline in New Zealand’s commodity prices for December. NZD/USD is looking at a 0.09% loss, AUD/USD is down 0.13%, and USD/CAD is up 0.02%.

The forex calendar suggests that the London trading session might be a more exciting one, with a bunch of major releases lined up from the euro zone. Germany is set to report its retail sales figure and employment change reading, with consumer spending slated to pick up by 0.2% and hiring to increase by 6K.

Also up for release are euro zone CPI estimates, as analysts expect to see a flat headline reading and a mere 0.6% uptick for the core figure. Weaker than expected data could lead to more losses for the shared currency since these could remind traders that the ECB might need to implement more stimulus in order to keep deflation at bay.

U.S. Session Recap

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

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