Here is the key factor to keep in mind today for Euro trades:
- German Trade Balance and Current Account Balance: The Trade Balance for October is predicted at a level of €21.7 billion. Forex traders can compare this to the September Trade Balance of €22.8 billion. The Current Account Balance for October is predicted at a level of €23.7 billion. Forex traders can compare this to the September Current Account Balance of €25.1 billion. Exports are predicted to decrease by 0.6%. Forex traders can compare this to September Exports which increased 2.6%. Imports are predicted to decrease by 1.0%. Forex traders can compare this to September Imports which increased 3.8%. The Euro could rally after the release of the German Trade Balance and Current Account Balance as despite economic worries and an overall global slowdown, the Eurozone is continuing to post a surplus in trade as well as current accounts which none of its major trading partners, with the exception of China and Japan as well as Russia, are able to do.
Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian Westpac Consumer Confidence Index: The Westpac Consumer Confidence Index for December decreased by 0.8% to 100.8. Forex traders can compare this to the November Westpac Consumer Confidence Index which increased by 3.9% to 101.7.
- Australian Home Loans, Investment Lending and Value of Loans: Home Loans for October decreased by 0.5%. Economists predicted a decrease of 1.0%. Forex traders can compare this to September Home Loans which increased by 2.0%. Investment Lending for October decreased by 6.1%. Economists predicted a decrease of 7.5%. Forex traders can compare this to September Investment Lending which decreased by 8.2%. The Value of Loans for October increased by 0.4% monthly. Economists predicted an increase of 3.1% monthly. Forex traders can compare this to the September Value of Loans which increased by 3.1% monthly.
- Chinese CPI and PPI: The CPI for November increased by 1.5% annualized. Economists predicted an increase of 1.4% annualized. Forex traders can compare this to October’s PPI which increased by 1.3% annualized. The PPI for November decreased by 5.9% annualized. Economists predicted a decrease of 6.0% annualized. Forex traders can compare this to October’s PPI which decreased by 5.9% annualized.
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