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Monday, 12 January 2009 23:30 |
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Over the next few days there isn’t much but second tier new for the market to digest. And as Asia gets ready to come back to work this afternoon, there a few things to keep in mind as the second round of this week’s opening begin.
- USD Retail Sales will tell us exactly how bad sales were in December.
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 BoE made its first rate of the year, last week, to its lowest rate since the mid 1600’s
- Yen is again approaching all time lows against the USD
These three items are important to currency traders.
- Should retail sales severally disappoint, the USD may weaken, giving up anything it has taken back over the last few days against the GBP, EUR and CHF
- The rate differential between the USD and the GBP now is very minimal. What each country is doing to solve their problems will be seen as the main instigation of directional movements for a while.
- Should the Yen break lower, there is no telling where it stops. As a joke, is there such thing as parity with the Yen?
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Forex Blog 
