08.03.16

Good morning,

The National Australia Bank's Business Confidence and Conditions figures were out overnight with a reading of 3 and 8 respectively. AUDUSD trading at 0.7428 Chinese Trade Balance figures were all red, with results falling below estimates across the board. Imports were down by 13.8% and Exports fell 25.4% year on year. Both these figures, particularly exports, were far below expectations. In Japan Consumer Confidence figures were out at 40.1, down from 42.5 previously. USDJPY trading at 113.15

In Europe the data for the day will began with Swiss Unemployment Rate for February. Positive German Industrial Production figures followed before French Trade Balance figures were released. EURCHF trading at 1.0949 Later in the session Hungarian GDP & Trade Balance figures, Turkish Industrial Production for January and Spanish Industrial Output for January are scheduled. Switzerland's Consumer Price Index will be out before the Euro Zone Gross Domestic Product numbers for the 4th quarter of 2015. EURUSD trading at 1.1021 The Governor of the Bank of England, Mark Carney, is scheduled to speak this session.

In the US today the first data release will be the BFIB Business Optimism Index for February. Canadian Housing Starts and Building Permits figures will follow in succession. USDCAD trading at 1.3332 Redbook Index on the calendar with the IBD/TIPP Economic Optimism figures for March to follow. The API Weekly Crude Oil Stock bulletin to look at oil storage is out today. USOIL trading at $38.87 printing a yearly high yesterday just above 39 dollars. GOLD trading higher, priced at $1272 per ounce at time of writing.

I hope you all have a nice day.