Euro Gains as Dollar Rally fades to stronger Chinese Data

Daily Update - 8th August 2018

Yesterday’s Market

•             AUD RBA Interest Rate Decision & Rate Statement

•             EUR Germany Industrial Production & Trade Balance

Yesterday’s Focus

The Australian Dollar is trading higher early Tuesday following the release of the latest interest rate decision by the Reserve Bank of Australia (RBA). It’s not the central bank decision that’s driving the price action, but rather rising demand for risky assets.

The euro jumped against its key peers even after disappointing data from Germany. Yesterday, data from the country showed that factory orders had slumped to the lowest level since last year as impacts of the trade conflict emerged.

 

Today’s Markets

•             CNY Trade Balance

•             AUD RBA’s Governor Philip Lowe Speech

Today’s Focus

To kick off the busier day of the week China will release their Trade Balance reports which will be major highlight for the Global Investors since China is the second biggest economy.

Followed by Philip Lowe Governor of Australia will speak to Press Conference on the current outlook of their Economy.