Welcome and good morning. Welcome to Stern and thank you for joining us for our daily market review of December 6, 2016.
US and Canada Financial News
Wal Mart shares continue to gain ground as the company considers settling it’s 7.5 million dollar lawsuits for same-sex spouses.
The US dollar might head lower as US home prices recover at an uneven pace.
The Canadian Looney should appreciate against the US greenback during the release of Canadian trade balance data.
At 14:30 GMT Canadian Trade Balance figures will be released reporting on the difference in value between imported and exported goods during last month.
International Financial News
As longer term rates in China rallied, the Chinese Yuan is expected to continue heading higher against peers.
In the early hours of the day Australian Current Account data will be released detailing the difference in value between imported and exported goods, services income flows and transfers during the previous 3 months.
At 4:30 GMT the Australian Cash Rate and Rate Statement will be disclosed. The Cash rate is the interest rate charged on overnight loans between financial intermediaries. The Rate Statement is expected to be more hawkish than expected which is good for the currency.
Binary Currency Pair News
The EU euro/ US dollar pair should head higher as German factory orders are expected to expand. Increased factory orders lead to an increase in demand for the Euro as buyers need local currency to pay for orders.
The New Zealand kiwi/ US dollar pair is expected to be very volatile during Reserve Bank of New Zealand governor Wheeler’s speech.
The Australian dollar/ US dollar pair is expected to be very volatile during the Reserve Bank of Australia (RBA) rate statement which is due to be released at 04:30 GMT.
The New Zealand Global Dairy Trade (GDT) price index is expected to be released today which will detail the change in the average price of dairy products sold at auction.
The Reserve Bank of New Zealand (RBNZ) government Wheeler’s will testify before the finance select committee in Wellington at 23:00 GMT.
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