Australia’s latest Gross Domestic Product (GDP) print early Wednesday capped gains for the Aussie (AUD), coming in below market expectations to print at 0.2% for the fourth quarter compared to the previous quarter’s 0.3%, which was revised slightly higher from 0.2%. Australia’s Trade Balance for February lands early Thursday at 00:30 GMT, and is expected to print at 11.5 billion after the previous month’s 10.959 billion.
China’s Trade Balance (in USD terms) is also expected early Thursday at 03:00 GMT, and is expected to drive market sentiment in the Asia market session. China’s USD-denominated Trade Balance for February is forecast to jump to $103.7 billion versus January’s $75.34 billion on mixed trade results. Chinese Imports are expected to climb 1.5% versus the previous 0.2%, while Exports growth is expected to slow to 1.9% from the previous 2.3%.
Friday’s US Nonfarm Payrolls (NFP) will wrap up the trading week, and markets are expecting the key jobs data to print at 200K for February compared to January’s 11-month high of 353K.
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