Show me the honey
I hope you had a good rest at the weekend because you’re going to be chasing trading gold all day Monday. We know you normally like the the other liquid gold, but we’ll be looking at what the busy bees in Japan, China and the US are up to today.
Monday 12.50am GMT
JPY GDP q/q – Japan releases its quarterly GDP preliminary: key figures to kick off the week. As I’m sure you’ll have noticed, it’s like traders prefer the semi to the final or the estimate to the final bill, they go crazy for preliminary figures so – they’ll be raring to go with this major announcement and so should we. Japan’s May GDP nudged into the black for the first time in a while but recent bank action has been attempting to shore up the currency so we wonder if they know something we don’t. Are we anticipating a downward turn? Could be, could be.
Monday 8.15am GMT
CHY PPI m/m – China’s producers’ release their monthly price index. We know how hard the Chinese work but July’s figure stayed positive by a mere squeak at 0.1. Forecasts predict a slip back into the negative at -0.2 and we think they’re on the button here. The good news is a little TIQL in the right direction and our traders win either way.
Monday 1.30pm GMT
USD Empire State Manufacturing Index – wowzer, the busy little bees in Yankeeville have taken traders on a wild rise with the last few announcements. I don’t know who exactly is getting paid to make these forecasts on this but someone needs to have a word as they have been WAY off.
Are you thinking what I’m thinking? Forecasts wildly off so…. some serious fun to be had. Now let’s just chuck in a word of caution. This announcement is only based on the opinion of a few producers in New York State. This doesn’t exactly reflect the state of the national manufacturing output BUT those stock market traders like a good gossip and that affects currency.
See you on the other side.