On the upcoming economic calendar there are four top tier releases to be aware of for Wednesday, January 14th.

At 08:30 will be retail sales and the core retail sales reports from the United States. Retail sales are the measure of the total sales of goods and services by retail stores in the United States. This is also an important part of figuring the country's GDP. Retail sales are an important measure of consumer spending and inflationary pressures. Steady increases in retail sales apply significant inflationary pressures to consumer prices. With retail trade being the foremost indicator for consumer spending, this figure is extremely important in understanding the U.S. economy. The figure is expected to come in at -1.2 percent. The core reading is the total value of sales excluding automobiles, which account for approximately 20 percent of retail sales. Core retail sales are expected to come in at -1.3 percent for the month.

Later, at 19:30, Australia will be releasing the employment change and unemployment rate. The unemployment rate and employment change measure the number of jobs created, or the percentage of employed/unemployed in the labor market. A currency will strengthen or weaken in-line with the other releases that the employment data impacts, rather than as a knee-jerk reaction to these numbers printing. The employment change is expected to be -21.0K, while the unemployment rate is expected to rise to 4.5 percent over the previous months 4.4 percent.

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