- Chinese trade balance falls short of consensus
- Nikkei closes with 0.2% gain
- Japanese leading indicators at 110.8% as expected
- Swiss CPI to show 0.1% decline in price levels
- U.K. manufacturing production coming up
Ho humm… Most currency pairs were stuck in consolidation in today’s Asian trading session, thanks to the lack of top-tier reports from major economies. China printed a weaker than expected trade surplus of 25.6 billion USD versus the consensus of a 32.6 billion USD surplus and lower compared to the previous 33.8 billion USD reading.
Japan, on the other hand, shared a bit of good news with its leading indicators report. The index climbed from 109.8% to 110.8% as expected, enough to let the Nikkei close with a 0.2% gain for the day.
Up ahead, we have French industrial production data and Swiss CPI. France is expected to post a 0.6% rebound in industrial production after seeing a 0.3% decline in the previous month while Switzerland could report a 0.1% drop in price levels. Weaker than expected CPI might push USD/CHF up the charts, as the pair has just broken above a long-term falling trend line.
Meanwhile, the U.K. will release its manufacturing production data and possibly show another 0.4% increase. Stronger than expected results could boost the pound higher prior to the NFP release later on.
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!