Forex Flash: AUD traders watchful on China trade balance - NAB

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FXstreet.com (Barcelona) - Relevant for AUD traders today will be the Chinese December trade data. The market is anticipating a surplus of $20bn, almost unchanged from the $19.6bn November number; with regards to expectations on the exports/imports series, "annual export growth seen improving to 5% from 2.9% and import growth to 3.5% from zero in November" NAB notes.

NAB adds: "The November numbers were a disappointment on both the export and import front, but given the evident strength in the likes of iron ore shipments from Australia it would be a surprise if we did not see a pickup in imports in particular and which if the case should offer some additional support under the AUD."

The bank makes a final point on recent German data "showing export orders continuing to drop so there is risk weaker capital goods imports more than offsets any strength in raw material imports" NAB comments.

There is also the typical talk that a cut to the reserve requirements ration on Chinese banks could be coming soon, "something that would also likely prove AUD supportive" the bank reminds us.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

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