Tuesday was a relatively muted day in the markets outside Europe and the US, with Australia being the only nation to show any significant data changes.
Australian trade balances were released last night, with numbers expected to show slight growth. This would see the Australian dollar strengthen, given the direct relation of Trade Balances to the nation’s import and export data.
More important data for Australia will be released today, as we expect the announcement of its retail figures to show growth in the region of 0.4%. Traders will undoubtedly keep their ears open for any positive data here, as consumer spending counts for the majority of Australia’s economic activity and will add valuable power to the Australian Dollar.
Today remains another quiet day for data in other world markets, with most eyes on Canada, who will release their Trade Balance, Labour Productivity and Ivey Purchasing Managers’ Index (PMI) data all on Thursday.
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