Market Brief January 12th: U.S. Retail Sales for December
Last business day for the week, traders. Let’s make it a good one!
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.
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!
Risk Warning: The information above constitutes Marketing Communication and does not constitute Investment Advice or Investment Research. The content of the analysis represents the view of our experts on a generic basis, and do not take into consideration individual readers personal circumstances, investment experience or current financial situation. In addition, the analysis above has not been prepared in accordance with legal requirements designed to promote the independence of Investment Research. Readers using the above information should consider the possibility of encountering substantial losses. Therefore, UR Trade Fix Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the above analysis.” Further to the above ,Forex Trading involves a substantial Risk of Loss and may not be suitable for all Investors. Please see our Website for details regarding UR Trade Fix Limited’s Trading Terms, Policies and Offerings.Read more.