We had all these out over the weekend, here they are all in once place:
- Bank of Japan (BOJ) Governor Kuroda spoke on Saturday, details here and here
- The World Trade Organization reached a scaled-back deal Saturday (pretty pathetic ‘deal’ it was too)
- China November trade balance data showed a huge $33.80bn surplus (vs. 21.20bn expected)
- Bundesbank’s Weidmann says ECB are ready to act further if necessary to preserve price stability
- EU banks reduce risk but fail to raise provisions
- BIS Quarterly Review shows global fx volumes falling
The big impact on the market has come from the Chinese trade figures for November, which came in at 50%+ higher than expected. As expected after a result like this, the AUD gapped to a higher opening in the New Zealand market (see Monday morning Forex prices, very early indications and then Monday morning – price guide update). Liquidity has now improved somewhat, with Australian markets open and Tokyo starting to see bums on seats too.
I’ll be back with AUD orders soon – the initial burst of buying after the China figures has abated and price levels are firming up.
