There were no data releases from Australia yesterday, but from China Trade Balance figures were released. In Yuan terms, China’s Trade Balance beat the 338.80b billion estimate coming in at a surplus of 382.05 billion. The more closely watched Dollar-based figures also beat estimates. The anticipated decrease from November’s positive $54.10 billion balance to the $51.30 billion consensus forecast was met with an expansion of $60.09 billion. Exports dropped less than expected at a 1.4 percent rate (versus –8.0 percent anticipated) while imports dropped 7.6 percent (against -11.0 percent projected).
Thursday will bring Australian job data. Employment is expected to decline by 11,000, while unemployment rate should rose to 5.9%. In the US session Unemployment Claims figures are scheduled for a release. Analysts are anticipating decrease to 275,000.
Figures to watch:
Employment Change/Unemployment Rate (Thursday 1:30)
Unemployment Claims (Thursday 14:30)
UK still likely to leave the EU with a negotiated agreement, says Number 10
Sentix Investors Confidence rose to 14.7 in August
German factory orders -4.0% seasonally adjusted on the previous month
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
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