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Aussie gains ahead of retail sales

AUD-USD1

The Aussie reversed course and fell on Monday, while the yen gained on safe-haven demand following multiple ballistic missile tests by North Korea into the Japan Sea.

AUD/USD traded at 0.7576, down 0.22%, while USD/JPY changed hands at 113.82, down 0.20%.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.09% to 101.44.

Australia reported retail sales for January with a 0.4% gain as seen month-on-month. Ahead, Minneapolis Fed President Neel Kashkari speaks later in the U.S.

On Thursday, the European Central Bank meets and will offer fresh cues on the future direction of its stimulus program.

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Paul

The author Paul