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Economic Statistics

Aussie Q4 Current Account Balance / Net Exports of GDP

Australia’s Current Account Deficit increased, despite a better than expected export reading for the 4th quarter. The markets had a muted reaction as risk continues to regain a light bid.

  • Current Account Balance – Survey:-8050M   Actual:-8347M   Prior:-5637M
  • Net Exports of GDP – Survey:0.0   Actual:0.3   Prior:-0.6

UK BRC Sales

The UK BRC Same Store Sales reading for February was -0.3% on a year over year basis, the same as the prior month. The market has shrugged off the release as it seems to be regaining some of the risk bid that was lost yesterday to begin the trading week.

US Factory Orders and Non-Manufacturing Composite Both Better Than Expectations, ISM Highest Since Feb 2011

ISM Non-Manufacturing Composite:  Survey: 56.2   Actual: 57.3  Prior: 56.8 
Business Activity   62.6 vs 59.5 
Backlog of Orders *  53.0 vs 49.5  
Inventory Change *  53.5 vs 47.0 
Employment   55.7 vs 57.4      

Factory Orders:    Survey: -1.5%   Actual: -1.0%   Prior: 1.1%   Revised: 1.4%

USD Advances vs. CNH

A 7.5% growth forecast from China for 2012 (an 8 year low projection) has helped push the USDCNH pair back toward February highs (as well as the fix.) Depending on how Europe and the US markets interpret these estimates could go a long way toward determining what kind of legs this bid could have particularity if the February levels are broken. Note December highs at 6.42 area.

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