Key events for the day ahead – Rabobank

By FXStreet FXStreet (Guatemala) – Analysts at Rabobank explained the data that has been and gone and what is coming up for the day ahead.

Key Quotes:

“This morning has seen already seen Aussie home loans, up 2.0% m-o-m (flat consensus), but where investment lending dropped 8.5%, which will have had the RBA and APRA saying “Good as gold” to themselves.

The next big release is Chinese CPI/PPI. Headline CPI is seen dropping back to 1.5% y-o-y, while PPI is expected to remain at -5.9% y-o-y. It’s hard to predict if the local equity markets will pay any attention to data when day-traders are so busy pushing equities up from ridiculous to ludicrous valuations again.

Meanwhile, expect little movement in the currency, of course. Until 30 November, when the SDR entry issue is finally settled, China, like Europe, will be on its own self-inflicted little gold standard. (Prices of which are, of course, tumbling at the moment: surely we will break through this year’s low soon, at which point ‘Au’ will be back where it was in early 2010/late 2009.)

We also see US NFIB small business confidence late in the session, whose blunt commentary is always welcome. For example, last month they …read more

Source:: FX Street