Market Brief January 12th: U.S. Retail Sales for December


Last business day for the week, traders. Let’s make it a good one!

Bitcoin

The global crypto market is getting rattled by concerns over South Korea banning digital currency trading via exchanges. The country’s minister of justice has said that there is a ban underway. As a result, virtual currencies reacted with a significant drop.

Bitcoin tumbled 12% and Ethereum followed with a 7.6% drop. There is an important detail about the discussed bill- legislation requires a majority vote of the total 297 members of National Assembly for the bill to pass. The process could take considerable time.

United States

USD, 13:30 p.m. GMT, Core CPI (MoM) (Dec) – the index measures inflation and purchasing trends in the price of goods and services excluding food and energy. Projections for the month of December show a minor increase at 0.2% compared to 0.1% for the previous period. If the report shows that prices have increased over the specified period, this should raise the value of the dollar as well. And, vice versa- a much lower reading should be read as a negative factor for the dollar.

USD, 13:30 p.m. GMT + 1, Core Retail Sales (MoM) December – the key indicator of consumer spending that measures the change in the total value of sales at the retail level with the exception of automobiles. Expectations are pointing to an increase at 0.4% for December compared to 1.0% for the month of November. If the actual number beats expectations, this could be seen as a bullish sign for the dollar while a considerably worse off reading could cause the currency to drop.

 

Wishing you Happy and Successful Trading!

 

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