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Important Forex News On 06 December 2016 | Forexing24

Important Forex News On 06 December 2016 | Forexing24

Important Forex News On 06 December 2016 | Forexing24

Important Forex News: Cash Rate

Currency NameNews Name     Actual   Forecast  Previous
AUDCash Rate1.50%1.50%1.50%
SourceLatest Release
MeasureInterest rate charged on overnight loans between financial intermediaries;
Usual EffectActual > Forecast = Good for currency;
FrequencyFirst Tuesday of the month, excluding January;
Why Trade CareShort term interest rates are the paramount factor in currency valuation – traders look at most other indicators merely to predict how rates will change in the future;
Derived ViaReserve Bank Board members come to a consensus on where to set the rate;

Important Forex News: RBA Rate Statement

Currency NameNews Name     Actual   Forecast  Previous
AUDRBA Rate Statement
SourceLatest Release
MeasureMore hawkish than expected = Good for currency;
Usual EffectFirst Tuesday of the month, excluding January;
FrequencyUntil Dec 2007 the statement was only issued when the cash rate was changed;
Why Trade CareIt’s among the primary tools the RBA Reserve Bank Board uses to communicate with investors about monetary policy. It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision. Most importantly, it discusses the economic outlook and offers clues on the outcome of future decisions;
Also CalledInterest Rate Statement;

Trade Balance

Currency NameNews Name     Actual   Forecast  Previous
CADTrade Balance???-2.1B-4.1B
SourceLatest Release
MeasureDifference in value between imported and exported goods during the reported month;
Usual EffectActual > Forecast = Good for currency;
FrequencyReleased monthly, about 35 days after the month ends;
Why Trade CareExport demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation’s exports. Export demand also impacts production and prices at domestic manufacturers;
Derived ViaInternational Merchandise Trade;

GDT Price Index

Currency NameNews Name     Actual   Forecast  Previous
NZDGDT Price Index???11.4%4.5%
SourceLatest Release
MeasureChange in the average price of dairy products sold at auction;
Usual EffectActual > Forecast = Good for currency;
FrequencyTwice per month;
Why Trade CareIt’s a leading indicator of the nation’s trade balance with other countries because rising commodity prices boost export income;
Derived ViaThe weighted-average price of the 9 dairy products sold at auction are sampled and then compared to the previous sampling;

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