The short Christmas week starts with a light calendar. Canadian retail sales are the only major event. Will the dollar continue to rage?
Japanese Trade Balance starts the day with an expected drop in the surplus. Later in Japan, the BOJ Monthly Report will give a broad view of the economy.
In Australia, New Motor Vehicle Sales are released at the beginning of the day, while the CB Leading Index is released near the end of the day.
For more on the Aussie, read the AUD/USD forecast.
The Canadian dollar showed strength as it didn’t lose any technical barriers last week, riding on strong inflation numbers. Canada’s retail sales are released today: retail sales are predicted to rise by 0.9%, almost like last month’s rise. Core retail sales are predicted to rise by only 0.5%, half of last month’s 1.1% gain.
For more on USD/CAD, check out the Canadian dollar forecast.
In New Zealand, Current Account is predicted to turn negative, with a big deficit of 2 billion NZD.
That’s it for today. Happy forex trading!
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