Ahead we will focus on UK Retail Sales. A deviation in either direction can dictate sterling bias for the session. While we believe the GBP remains vulnerable to further downside on a miss, the market will continue paying close attention to the ongoing negotiations between the UK and EU, this may continue to support the pound on further positive comments and an agreement between both parties. Learn more about this event from the weekly risk events video here.
Current Market Sentiment:
The Asian session provided no important economic data. Asian equities fell alongside the pullback in crude. The Nikkei was down nearly 1.5% before pulling back higher in recent trade. Accordingly, yen pairs moved lower during the session, with AUDJPY down over 100 pips. Downside in Aussie was also helped by jawboning from RBA’s Edwards who stated the currency was too high and he’d prefer a 0.6500 level.
This article originally appeared at Jarratt Davis.