- Chinese stock trading resumes today
- Australia’s AIG construction index recovered from 47.1 to 53.8
- Australia’s ANZ job advertisements up by 1.0% in Aug
- Swiss foreign currency reserves data due
Be careful, risk takers! Financial markets seem to be in a gloomy mood again, now that Chinese stock trading has resumed after their bank holidays. Luckily for the Australian dollar, a couple of upbeat reports allowed it to stay afloat against its forex rivals.
The country’s AIG construction index climbed from 47.1 to 53.8 in August, reflecting a return to industry expansion. Soon after, ANZ reported that job advertisements picked up by 1.0% in August after falling by 0.5% in July, yielding positive prospects for the upcoming Australian jobs release later on this week.
AUD/USD gapped down over the weekend but is up 15 pips to .6925 (+0.23%), AUD/JPY is up 48 pips to 82.66 (+0.56%), AUD/NZD is up 41 pips to 1.1032 (+0.38%), and AUD/CAD is up 10 pips (+0.09%).
The forex coast is clear in terms of top-tier market catalysts in the next few hours, although the release of the German industrial production report at 7:00 am GMT and the Swiss foreign currency reserves data at 8:00 am GMT might provide some volatility for the euro and franc pairs. Keep in mind that the ECB just announced its dovish stance last week so a downbeat report from the euro zone’s top economy might spur more euro declines. Meanwhile, the Swiss foreign currency reserves data should provide some clues on whether or not the SNB is intervening in the forex market to weaken the franc.
Bonnie and Clyde, peanut butter and jelly, Kanye West and Kanye West. Some things just go well together.
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