Japan and China services PMIs today ... but first, OZ services PMI!
2230GMT - AiG performance of Services Index for November.
October's result was a SHOCK fall into contraction (I nearly choked on my Corn Flakes ... OK, I didn't really)
- Down 3.3 points to 48.9 in October
- Which came after 4 months of expansion
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Also from Australia today, due at 0000GMT, HIA new home sales for October
- prior was -4% m/m
And then, due at 0030GMT ... trade balance for October (and congrats fro reading down this far)
- expected is -2.6bn, prior was -2.317bn
- The Q3 GDP data out from Australia yesterday showed the biggest surge in exports in 15 years. This is what the huge capex investment in mining over the past decade or so have been all about, and the benefits, despite low commodity prices, will be ongoing.
And, its not just rock and dirt exports ... services exports improved also, much thanks to the lower AUD.