Here are the key factors to keep in mind today for Gold trades:
New Zealand Trade Balance: New Zealand reported a trade deficit of 649 million (NZ$) in July and a trade deficit of 2,690 million (NZ$) for 2015 year-to-date. This was much worse than the trade deficit of 600 million (NZ$) monthly and 2,528 million (NZ$) year-to-date which was predicted by surveyed economists. The June trade deficit was also revised and the trade deficit is now bigger than previously thought with a monthly deficit of 194 million (NZ$) and a year-to-date deficit of 2,984 million (NZ$). Exports rose by 4.20 billion (NZ$), but import surged by 4.85 billion (NZ$). Economists predicted an increase of exports by 3.83 billion (NZ$) and an increase in imports of 4.40 billion (NZ$). Exports for June were revised down to 4.14 billion (NZ$), but imports were revised up to 4.33 billion (NZ$).
Australian Construction Work Done: Australian Construction Work Done came in better than economists’ predictions for a contraction of 1.5% in the second-quarter and rose by 1.6%. The was also an upward revision to first-quarter Australian Construction Work Done which now indicates the contraction was much less at 0.8%
Swiss UBS Consumption Indicator: The Swiss UBS Consumption Indicator rose to 1.64 in July and forex traders can compare this to the downward revised level of 1.61 which was reported in June.
UK BBA Loans for House Purchases: UK BBA Loans for House Purchases were released this morning and showed an increase to 46,033 in July. This can be compared to the 44,488 which was released in June and today’s figure came in above the 46,000 predicted by economists.
US Durable Goods Orders: Economists are predicting a contraction of 0.4% in today’s durable goods orders report for July. Durable goods orders excluding transportation are expected to increase by 0.4%. Forex traders can compare this to the increase in durable goods orders of 3.4% reported in June and the 0.6% increase in durable goods orders excluding transportation. Capital goods orders excluding defense orders and orders in the aerospace sector are expected to increase by 0.5% in July and Capital goods shipments excluding defense orders and orders in the aerospace sector are expected to increase by 0.4%. Forex traders can compare this to the increase of 0.7% in Capital goods orders excluding defense orders and orders in the aerospace sector which was reported in June and the 0.3% increase in Capital goods shipments excluding defense orders and orders in the aerospace sector.
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