US Retail Sales - Much Better Price Action to Lower Deviation

At 8:30 EST (13:30 GMT) the Retail Sales figures for the USA were released along with the Weekly jobless numbers the Initial Jobless Claims and Continuing Claims numbers. The numbers were weaker accross the board. This figure has not been responding very well recently and we have been only watching larger deviations, so although this month the deviations were larger than the past few months, they were still below the +-/0.7 we watch. However there was a good price response the this -0.5 deviation, especially the EMini S&P 500 Futures contract, which really is the best trading instrument to trade on this number. However the move was helped by the Weekly Initial Jobless figure which came back down to break the late February 2011 lows, reaching 364k on December 22nd 2011 - the lowest number for the year. A lower Jobless Figures is good. The weekly number had been hovering around 400k for some weeks leading into the end of the year when it finally broke in December, a bullish sign, but today it is back near 400k again....Was this reduction in the jobless merely temporary Christmas employment...we could have a bad print for February's NFP...keep your eyes open


Here the figures:

US Retail Sales Less Autos
Estimates: Median +0.3% Average +0.3% Range -0.2% to +0.8%
Actual: -0.2% Prior: +0.2% Revised: +0.3%
US Advance Retail Sales
Estimates: Median +0.3% Average +0.3% Range -0.2% to +0.9%
Actual: +0.1% Prior: +0.2% Revised: +0.4%
US Retail Sales Ex Auto & Gas
EStimates: Median +0.4% Average +0.3% Range 0.0% to +0.5%
Actual: 0% Average +0.2% NO Revision
US Initial Jobless Claims w/w
Estimates: Median +375k Average +378k Range 352k to 405k
Actual: 399k Prior 372k Revised 375k
US Continuing Claims w/w
Estimates: Median 3595k Average +3590k Range 3545k to 3630k
Actual: 3628k Prior: 3595k Revised: 3609k

Here is the 1 minute chart of the EMini S&P 500 Future which had a nice move, this really is the best instrument to trade on US news these days.

Next is the CADJPY 10 second chart which usually has a good correlation to the Stock indices:

Finally the USDJPY 30 second chart for completion, initially there was some whipsaw price action but it did eventually head down: