Global Themes


Greenback slips as retail sales plunge

The USD’s recent solid run suddenly turned lower overnight after a shock fall in US retail sales.

US retail sales fell a massive 1.2% in December in data that was delayed due to the US government shutdown.

The news hit global confidence with the US consumer accounting for around for around 70% of US economic growth.

Near miss for Germany

The result hit the greenback with the AUDUSD up 0.2% overnight.

The AUDEUR fell 0.1% as the euro gained on news the German economy narrowly missed falling in recession. December-quarter growth was report as flat – a still disappointing result from the Eurozone’s largest economy.

Chinese inflation

Today’s focus remains on China after yesterday’s trade figures were seen as better than expected.

Markets had been worried after the December result missed expectations but yesterday's trade balance saw a solid jump.

Today’s inflation result, due at 12.30pm AEDT, will be closely watched.

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