Yesterday , the USD made some gains after strong retail sales data . This early morning ,Chinese Industrial Production for November declines to 7.2% vs expectation 7.5% , this scenario put the AUDUSD and the NZDUSD under pressure , so till US data is released , both pairs will remain under pressure , note that both pairs trade near critical support level , AUDUSD: 0.8220 , NZDUSD : 0.7760 , As a result ; USD data will give both currencies a clear direction today ?!!!!
Now , the question is : will the USD continue its gains today ?? to find out !!! let’s highlight the most critical data which may influence currency market today :
- Euro zone Industrial Production (MoM) (Oct) at 10:00 . Last read 0.6% , forecast 0.1% . Market impact : A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.
- US Producer Price Index (PPI) (MoM) (Nov) at 13:30 .Last read 0.2% , forecast -0.1% . Market impact :A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
- US Michigan Consumer Sentiment (Dec) at 14:55 . Last read 88.8 , forecast 89.7 . Market impact : A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
*All times are GMT ..
