Here are the key factors to keep in mind today for Gold trades:
- Australian ANZ Roy Morgan Consumer Confidence Index: The ANZ Roy Morgan Consumer Confidence Index for the week of October 18th was reported at 113.3. Forex traders can compare this to the ANZ Roy Morgan Consumer Confidence Index for the week of October 11th which was reported at 115.6.
- Australian RBA Minutes: The RBA released minutes from its October 6th meeting and stated that the re-balancing towards the non-mining sector are on track which warrants the unchanged interest rate of 2.00% as the decline in the Australian Dollar has contributed to the re-balancing. The economic outlook for China was noted as a concern as Australia is dependent on China for its commodity exports.
- Japanese Department Store Sales: Nationwide Department Store Sales for September rose by 1.8% annualized and Tokyo Department Store Sales rose by 4.9% annualized. Forex traders can compare this to Nationwide Department Store Sales for August which rose by 2.7% and Tokyo Department Store Sales which rose 6.1%.
- Swiss Trade Surplus: The Swiss Trade Surplus for September was reported at CHF3.05 billion for September. Forex traders can compare this to the revised Swiss Trade Surplus of CHF2.86 billion reported in August while economists predicted a Swiss Trade Surplus of CHF3.27 billion. Exports rose by 0.2% month-over-month and exports plunged by 2.6%. Forex traders can compare this to August where exports dropped by 2.0% and imports plunged by 3.4%; both were revised lower from the previous assessment.
- German Producer Prices: German Producer Prices decreased by 0.4% in September monthly and by 2.1% annualized. Economists predicted predicted a decrease of 0.2% monthly and 1.8% annualized. Forex traders can compare this to the contraction of 0.5% monthly and 1.7% annualized which was released in August.
- Canadian Wholesale Sales: Canadian Wholesale Sales are expected to increase by 0.2% in August monthly. Forex traders can compare this to Canadian Wholesale Sales for July which stood still at 0.0%.
- US Housing Starts and Building Permits: US Housing Starts are expected to increase by 1.9% and US Building Permits are expected to decrease by 0.4% in September. Forex traders can compare this to the decrease of 3.0% in housing starts and increase of 3.5% in building permits reported in August.
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