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Chinese trade data is usually of interest. Expectations for the data today are for lower y/y result for both exports and imports. If exports come in as expected it’ll be the slowest growth in 4 months. There was a narrative about that exports would surge ahead of increased trade barriers, which has not turned out to be accurate. Still, it could get worse! Imports, too, are expected to have slowed. The narrative surrounding this was that the surge China has had in imports has been p[partially due to bringing in chips ahead of tighter curbs. This seems a little better supported in the data.
Australian business conditions and confidence are due. Of most interest in these figures will likely be how businesses are viewing employment and inflation developments … which of course comprise the two Reserve Bank of Australia mandates.
This article was written by Eamonn Sheridan at www.forexlive.com.
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