Here are the key factors to keep in mind today for Gold trades:
- UK BRC Shop Price Index: British shoppers have further cut their appetite to spend money as the BRC Shop Price Index contracted 1.3% in June year-over-year. This follows the 1.9% contraction which was reported in May and offers a bearish sign for the British Pound.
- Japanese Bank Lending Banks: Japanese banks continued to lend to each other with intra-bank lending excluding trusts at 2.6% in June. Economists expected an increase of 2.5% which can be compared to the 2.7% increase reported in May. Bank lending including trusts rose by 2.5% in June and forex traders can compare this to the 2.6% which was reported in May.
- Japanese Trade Balance: The Japanese trade deficit for May was reported at ¥47.3 billion. Economists expected a trade deficit of ¥283.8 billion which can be compared to the trade deficit of ¥146.2 billion reported on April.
- Japanese Current Account Balance: The Japanese current account surplus swelled to ¥1,880.9 billion in May. Expectations called for a current account surplus of ¥1,570.2 billion which forex traders can compare to the current account surplus of ¥1,326.4 billion which was reported in April.
- Japanese Bankruptcies: A positive development out of the Japanese economy was the continued slowdown in bankruptcies. Japanese bankruptcies dropped by 4.73% in June which follows a 13.18% contraction reported in May.
- Japanese Eco Watchers Survey: The Japanese economy received a dose of bearish news out of the Eco Watchers Survey this morning. Eco Watchers Current fell to 51.0 in June while Eco Watchers Outlook dropped to 53.5. Economists expected a level of 53.0 in Eco Watchers Current and 54.0 in Eco Watchers Outlook. This can be compared to the 53.3 reported in Eco Watchers Current in May and the 54.5 in Eco Watchers Outlook.
- UK Halifax House Prices: The UK housing sector has performed much better than expected as Halifax House Prices rose 1.7% in June month-over-month. Expectations called for an increase of 0.3% which would have matched the 0.3% increase reported in May.
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