- Australian quarterly private capital expenditure down by 5.2%
- Swiss GDP and jobs report due
- German unemployment change to print 10K decline in joblessness
Another wipe-out for the Aussie! AUD/USD tumbled below the .8950 minor psychological level when the private capital expenditure report showed a whopping 5.2% quarterly decline versus the estimated 1.0% drop. It didn’t help that Citi decided to downgrade their growth forecasts for the Australian economy right after this capital expenditure report was released!
In the next few hours, we’ll see a bunch of reports from the euro zone. Germany is set to release its data on import prices but the bigger mover for EUR/USD could be the unemployment change report, which might print a 10K decline in joblessness. Swiss GDP and jobs data are also due today, and these might push USD/CHF in a clearer direction.
Do keep close tabs on the ongoing conflict in Ukraine, as actual military action could keep risk aversion in the markets and trigger sharper declines for higher-yielding currencies. Last time I checked, Ukraine’s acting president made comments saying that troop presence in the Black Sea would be considered as an act of aggression. Yikes!
Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.
Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!