Trading The News

Today is one of those days we like to trade the news. US retail sales data is due out at 13:30 GMT. The consensus is for a modest increase, but smaller than November's huge gains. Even with a bullish outlook, we can still expect to see a big spike lower in the EUR/USD pair.  Add that to the current downward bias and the have the makings of another bearish close. Our trigger lower is at 1.2989.