1/9/2021 2:47:46 AM GMT
USD/JPY recovers ground but the trend remains lower.
Weak US December payrolls had minimal effect as already priced.
BOJ “closely watching currency markets” provides Thursday boost.
FXStreet Forecast Poll sees little movement despite bearish outlook.
A week of political turmoil in the United States that culminated in a riot in the halls of Congress by supporters of President Trump, had almost no impact on the currency markets as an old-fashioned warning from the Bank of Japan combined with the prospect of more stimulus spending in the United States gave the USD/JPY a modest boost back to 104.00.
Dec 16, 2020 10:17 GMTFXStreet News
Retail Sales are forecast to drop in November for the first time in seven months, a development that could reverberate through a US economy still unsteady from almost a year of pandemic lockdowns and unemployment. The sharp decline of the dollar over the past two weeks could be extended on gloomy Retail Sales data, Joseph Trevisani, an Analyst at FXStreet, reports.
Key quotes
“The Retail Sales Control Group that closely mimics the consumption component of the Bureau of Economic Analysis’ GDP calculation, is forecast to gain 0.2% on the month after a 0.1% increase in October. The Retail Sales ex-Autos category is projected to rise by 0.1% in November following 0.2% prior.”
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