Daily Video Analysis: German GDP and U.S. Retail Sales to Take Center Stage

Good morning and welcome to CupO’Forex. This is David Frank with your daily video analysis for Friday, November 14.

Let’s get started as we have a busy day today. Asian equity markets are mostly lower as investors are eyeing the ever falling Crude Oil which is now trading at $77.40 per barrel. Sellers are now eyeing $75.

Economic data out of China, this morning showed the world’s second largest economy to be mired in a soft patch. Also this morning Malaysia and Hong Kong will release third quarter GDP results. We are expecting Malaysia to slow down growing at 5.6 percent year on year.

Malaysia and Hong Kong are on third quarter GDP-watch. We are expecting Malaysia’s economy to slow down. Later today, Germany will release GDP numbers as will the European Union. We expect those numbers to remain anemic. This afternoon, the United States will release its retail sales numbers. We expect a solid print here as the US economy is continuing to firm up.

Looking at technical analysis this morning the AUD/USD is losing some steam and the EUR/AUD is bouncing higher. Gold is looking for direction and pausing to digest recent losses.

Thank you for listening and have a wonderful weekend.