US Retail Sales to Influence Direction in USD/JPY
Schedule: 02/13/2012: 13:30 GMT
Markets are expecting US Retail Sales to show a sharp slowdown from the previous month and come in at 0.1% (from 0.5% previously). This is essentially a flat number, so this could drag down risk sentiment and put some selling pressure on stocks and high yielding currencies. For short term trades, choosing an asset can be tricky because it is not clear if markets will view the Dollar in terms of its role as a safe haven asset or more directly related to the data. A positive number will help the S&P 500 and weigh on the Yen and since the number comes out before stock markets open, more volatility will probably be seen in the USD/JPY. If we see a positive number, hourly CALL options can be taken if prices move above 93.90. If we see a negative number, watch for a break of 93.30 to enter into hourly PUT options.
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