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Currency Analyst since 2010

USD awaits retail sales

US dollar weakened against major currencies on Wednesday ahead of the release of the American retail sales at 12:30 GMT. USD/JPY is once again trading below 120.00.

EUR/USD rose to 1.1266 supported by the increase in the euro zone’s yields, but remains below the 2-month high at 1.1390.

GBP/USD closed above the 200-day MA (1.5630) on Tuesday after data showed that British industrial production grew by 0.5%, at its fastest rate in six months in March after an unexpected bounce in oil and gas extraction. Statistics released on Wednesday showed that the UK unemployment rate contracted from 5.6% to 5.5%, though the reduction in jobless claims wasn’t as big as expected.

NZD/USD jumped to 0.7430, while AUD/USD approached 0.8000. China released a bunch of lower-than-expected figures and the market players expect Chinese authorities to launch additional stimulus measures.

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