US retail sales were higher than expected at .6% while initial
jobless claims were slightly lower than expected at 334 thousand, These numbers
will once again start talks of a tapering quantitative easing program since one
of the criteria for a tapering was a more stable job market. The Canadian
release of the new housing price index which was not expected to move the
market and came in higher than expected at .2% and the Canadian Dollar was able
to garner a little strength..
The Canadian Dollar continues to be stuck
in recent ranges as it awaits it next breakout and will most likely stay that
way for the rest of the afternoon.
Later tonight the Bank of Japan will
release the minutes from their latest
monetary policy meeting. The
minutes show the outlook of the Bank and will give an indication of any new
fiscal policies with some volatility expected from this report. If they do not address the recent
strength in the Yen we may once again see lots of overnight volatility
Have a great night
Yonah
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