Sadly, no, we’re not talking the weirdly popular 90s sitcom about a misplaced Canadian, but the actual geographical direction: this week we’re mostly watching Australia and it’s trade buddy numero uno, China, this week.
Is it love?
Monday – ? GMT (shrugs – who knows)
Chinese trade balance figures are tentatively due on Monday, but there’s no fixed date or time so stay alert for announcements. These figures have a massive impact on currency as they’re the difference between what comes in and what goes out. A negative figure means more good were imported than exported and over the last few months that is exactly what has been happening. Not good for CHY but good for our traders.
Monday 12.50am GMT
It may be practically still Sunday in TIQL’s homeland but this is worth staying up past our bedtime for. After last week’s shenanigans, we get a peak at Japan’s current account balance.
Has Japan been balancing the books? Forecasts say 1.60T but they’ve been a bit over-optimistic for the last few months, and there are rumbles in the press. This is big news for currency trading because if it does go up people are buying Yen to trade in Japan so it’s worth more.
We’re a tad gobsmacked to hear some analysts are saying the Yen is looking good as recent trends say otherwise.
It could go either way.
Tuesday – 2.30am GMT
Ready for the night shift? Or are you lucky enough to be on the right side of the globe for this one? All eyes are down under with the big question being – are Aussie businesses confident in the future? The NAB Business Confidence report will let us know. Indicators suggest things could be at a tipping point and opinion is divided. Unlike London, some say Oz may have an oversupply on housing on the way, wages are fairly stagnant, and worst of all, best trading buddy China is looking decidedly… less of a sure thing. How’s someone looking for serious fun to know what to do?
We wouldn’t leave you hanging like that. Buckle up because China‘s announcing the monthly consumer price index (CPI) and producer price index (PPI) AT THE SAME TIME so if they pip the Aussie bank to the post and announce figures first it could help you know which way to jump… and give you a good nod for any AUDUSD moves.
If there’s ever a time to step up to trading 2 currencies at one time, this is it guys. Limber up, get those multiple tabs open and strike while the iron’s hot. We know you can do it. What’s your gut feeling saying now? Click below and let us know – after all, you scratch my back and I’ll scratch yours. Wink wink.
We’ll see you soon for more global trading news to take you to the weekend.
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