US Retail Sales | Current Market Sentiment

Jarratt Davis

Special Consultant to the FPA
There is no trade call for the session. Today’s London session is light on data, however the NY session sees Retail Sales from the US which could be a market-mover.

Current Market Sentiment

The RBA released minutes from their March 1 meeting. They contained no surprises but confirmed the Bank sees no immediate need for further easing. Of course, further declines in inflation will allow the RBA to cut rates. The Aussie is down nearly 50 pips on the day as commodities pull back.

Also during the session, the BOJ left monetary policy on hold, as expected. The Nikkei fell after the release, which helped some appreciation of the yen. AUDJPY fell over 80 pips.

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