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Key evenst ahead: China trade balance - Westpac

FXStreet (Guatemala) - Sean Callow, analyst at Westpac noted the key events ahead for the day.

Key Quotes:

"In Australia, the Nov NAB business survey will be released at 11:30am Syd/8:30am Sing/HK. The conditions index has been holding at +9, well above the long run average, while confidence was at +2 in Oct. With the increase in variable mortgage rates, we could see some impact on the real estate sector and may also see consumer spending dampening.

Final Japan Q3 GDP will be released at 10:50am Syd/8:50am local. Capex was much stronger than expected so we should see a decent upward revision to GDP. The median forecast is flat from the first estimate of -0.2%q/q.

China Nov trade balance is due at 1pm Syd/10am local, though in recent months the data in local currency has been released well before the USD numbers. Consensus is for a less steep decline in the value (rather than volume) of both exports and imports. Exports are seen at around -3% y/y in CNY terms, -5% in USD terms, and imports down 11-12% y/y.

UK Oct industrial production is likely to still be weighed by the strong currency and soft external demand. The median forecast is for a small rise of 0.1% m/m. We also have US JOLTS job openings. While this is not a market sensitive release, the details are watched by the Fed."

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NZD/USD is currently trading at 06642 with a high of 0.6650 and a low of 0.6640.
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