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- Australia and China on traders focus during the Asian session – 09.11.2018
Australia and China on traders focus during the Asian session - 09.11.2018
Rating:
Loading...02:30 Australia - Mortgage Loans
02:30 Australia - RBA Report on Monetary Policy
03:30 China - CPI
03:30 China - PPI
Expectations:
Asian traders will focus their attention first on the RBA report at 02:30 and then on China's inflation data at 03:30!
Regarding the Reserve Bank Of Australia report, it is widely expected to confirm the current "soft" policy of the Central Bank for a number of reasons. The main one, however, will remain, the US tariffs on Chinese imports. As Donald Trump showed the will to change the situation, saying he expects a very good deal with China, and the interim elections gave Democrats a slight advantage, it is unlikely that we will witness a surprise from the RBA tonight. It may be that the bank changes its tune and forecasts of tightening monetary policy earlier than expected. This, in turn, would have a positive impact on AUD.
By trading AUD and the new RBA report, we should not forget the forthcoming CPI and PPI data from China, which can actually have a greater impact not only on AUD but also on all currencies from emerging markets. Consensus forecasts are for declining indicators to confirm the deterioration of the world's second-largest economy. This will have a strong negative impact on Asian stock markets, and in particular Chinese, and AUD and NZD will see a decline. JPY will likely benefit from such a scenario and will enjoy support for major currencies.
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