US Retail Sales will be watched today.

There is not a huge amount of big ticket news items around today that will beat the US Retail Sales number out of the US late tonight Sydney time. Most of us will be sleeping when it is released but it will move the USD if out of line with expectation. If we get a better a than expected Retail Sales number this will send the US Dollar and US Treasury Yields slightly higher for a short period which will have some news wires with headlines that the US Fed may taper.

The US Dollar at the moment is the inverse scenario to the Aussie and Kiwi. Any rally on the US Dollar is likely short lived with the US Fed pumping the economy with $85 billion a month. The opposite is true for the Aussie Dollar, any pull back down is short lived as they buy it back up as stock and commodity markets rally.

At 6am tomorrow morning Sydney time we will get the latest US Fed monthly minutes so expect some volatility on currencies when you get up tomorrow. If the minutes lean towards concern around jobs and growth in the US this is only going to likely see weakness in the USD and JPY. Those of us that are long AUDJPY this is the news we want to hear.

LTG GoldRock Forex Trader Andrew Barnett reviews the latest FX news in the GoldRock Insider Report every week day. Also each evening the the LTG GoldRock Live Training Room members get to interact with the Professional Trading Team in the live market.