US retail sales grew by 6.6%; Aussie dollar back US$0.9800 level

<p>Asian markets are expected to open mixed, perhaps even slightly positive after U.S. markets fell less than expected and Europe managed to book some modest […]</p>

Asian markets are expected to open mixed, perhaps even slightly positive after U.S. markets fell less than expected and Europe managed to book some modest gains on the weekend.
News that Black Friday sales in the U.S. grew by 6.6% will bode well for investor confidence, perhaps a sign that the world’s largest economy is on the brink of a recovery in 2012.
The Australian dollar is usually a good gauge for risk appetite, last trading up above 0.9800 cents against the U.S. dollar. The Euro remains weak, last trading at around 1.3305 against the dollar.
In Australian corporate news, mining giant Rio Tinto says while clients are meeting their obligation to take product and demand remains strong, the possibility of more downside risk to the global economy is real should European debt problems persist.
Rio cites volatility in the iron ore price and says while other metal prices are relatively stable, aluminum prices have fallen back below the margin cost of production for the industry and expected to weigh on profits in the near term.

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.