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Australia’s retail sales report boosted the Aussie across the board, while yen crosses and dollar pairs recover on a bit of profit-taking from yesterday’s moves.

Meanwhile, Bitcoin dropped like a rock following reports that South Korean officials have raided major exchanges this week.

  • Australia’s retail sales jumps by 1.2% vs. 0.4% uptick expected, 0.5% previous
  • Yen crosses recover slightly as BOJ keeps bond-buying purchases steady
  • China: slowdown on U.S. debt buying could be based on “wrong information”
  • Bitcoin plunges as South Korean officials raid major exchanges

Major Events/Reports:

Australia’s retail sales surprise

Data from the Land Down Under printed earlier showed that retail activity had jumped 1.2% in November, which is higher than October’s 0.5% increase and the 0.4% uptick that market players had expected.

Details tell us that sales of household goods (+4.5%) and clothing, footwear, and personal accessories (+1.6%) helped propel overall sales to its fastest pace since February 2013. Analysts point out that iPhoneX and Black Friday sales have also jumpstarted the numbers.

Not surprisingly, the Aussie shot up across the board at the better-than-expected news. If you recall, market players were worried that higher interest rates and lower wages could further weigh on the already cutthroat retail industry.

To slow down or not to slow down?

Earlier today Reuters cited a government source, saying that reports about China possibly considering halting (or at least slowing down) its U.S. debt buying could be based on wrong information.

If you recall, markets went nuts during the London and U.S. sessions at the prospect. China hasn’t released any official statement on the matter, but you can bet that this theme could continue to affect the dollar (and other markets’) price action over the next couple of sessions.

Major Market Mover(s):

AUD

The Aussie was king of pip hills today as a positive retail sales release boosted the comdoll across the board.

AUD/USD is up by 27 pips (+0.34%) to .7870;
AUD/JPY is up by 51 pips (+0.58%) to 87.90;
AUD/CAD is up by 37 pips (+0.38%) to .9877, and
AUD/NZD is up by 47 pips (+0.43%) to 1.0943.

Watch Out For:

  • 5:00 am GMT: Japan’s leading indicators (108.7% expected, 106.5% previous)
  • 9:00 am GMT: Italy’s retail sales (0.8% expected, -1.0% previous)
  • 9:30 am GMT: BOE’s credit conditions survey
  • 10:00 am GMT: Euro Zone’s industrial production (0.8% expected, 0.2% previous)