The key data point today will likely be retail sales out of the US. This has been a bit of a volatile number in recent months and has certainly shown that it is more than capable of moving markets.

The expectation today is for an increase of 0.7% on the headline number. There is also industrial production that could well move the SPX as well.

Yesterday, most of the attention was on the commodity space as a strike against some oil tankers, sent WTI ripping higher. At the same time, Gold also moved sharply on the news.

It is also worth noting that there is some Chinese data scheduled for release today, but we can’t be exactly sure as to what time it will come out. Industrial production is a market mover for the AUD/USD so keep a watch on this around 7:00pm GMT.

Forex Signal Update

The FX Leaders Team finished with 4 wins from 5 signals, in a strong performance from the guys.

Gold – Active Signal

As mentioned, GOLD jumped nicely on the back of the news about the oil tanker strike. We are closing in on the take profit here so hopefully, this catalyst follows through a little further.

EUR/CHF – Active Signal

The EUR/CHF, has turned down a bit recently, thanks to the SNB being a touch more hawkish than what we had seen previously. We are looking for a bit of a bounce though as there is strong support below.

Cryptocurrency Update

BTC is holding the $8,000 level and is now back testing the most recent highs around $8,250 as well.

As long as the $8,000 level holds we can remain quite bullish in my opinion. We have seen that there is plenty of buying support at $7,500, which should give the bulls plenty of confidence.

We sometimes see big moves headed into the weekend so keep this one on watch over the next few days.