Yesterday's session brought NAB Business Confidence figures from Australia. The NAB Business Survey is showing encouraging resilience in the nonmining sector recovery, as business conditions hold-up at well above average levels. Business confidence recouped some of last months decline, but remains somewhat subdued in light of the persistent strength in business conditions. The confidence index rose to +5 index points, which is still marginally below the long run average.
Also, from China,
Trade Balance data was published. Data on Tuesday showed China’s exports fell for a fifth month and a slump in imports extended to a record 13 months, clouding prospects for global growth.
Trade Balance surplus amounted 343 billion yuan, missing forecasts on surplus of 400 billion yuan. Exports fell 3.7% y/y, also missing expectations on 2.9% decrease. On the other hand, imports fell 5.6%, beating predictions on decline by 11.3%.
In the US session JOLTS Job Openings figures were released. The number of job openings was little changed at 5.4 million on the last business day of October. Hires and separations were little changed at 5.1 million and 4.9 million, respectively. Within separations, the quits rate was 1.9% for the seventh consecutive month, and the layoffs and discharges rate was 1.2%. This release includes estimates of the number and rate of job openings, hires, and separations for the nonfarm sector by industry and by four geographic regions.
From Australia, Home Loans figures will be released tomorrow. Analysts are predicting 1.0% decrease. From China CPI and PPI data will be published. CPI is expected to increase by 1.4%, while PPI should fall by 5.9%.
Figures to watch:
Home Loans (Wednesday 1:30)
China's CPI/PPI (Wednesday 2:30)
