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Subdued China Data Flattens Local Market
11.51 AEDT, Monday 11 March 2013
Subdued China Data Flattens Local Market
By Niall King (Sales Trader, CMC Markets)
Subdued economic data from China over the weekend has sapped some of the US-inspired enthusiasm in the Australian market in early trade.
In a relatively flat start to the week, the miners have come under pressure while overall sentiment appears to be finely balanced between the weak Chinese Industrial output and Retail Sales data, and the stronger than expected US employment landscape.
Tuesday's NAB Business confidence is the first main yardstick of the week for the Australian market. A positive read here could set the tone to support the Aussie dollar ahead of Thursday's influential Employment data.
Overseas, investors will look to get further insight into the health of the Eurozone's largest economies this evening. Industrial Production data from France and Trade Balance data from Germany should give some direction to international markets.
Web: http://www.cmcmarkets.com/
ENDS
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