China trade coming up: watching commodities - ANZ

Analysts at ANZ noted the key events taking place today in the Australian housing finance data that is due out at 11:30am AEST and the China trade data is also due out today.

Key Quotes:

"CURRENCY: With few major data releases and the Fed in blackout period, the low volatility environment may see the AUD hold gains over the short term. However, keep an eye to China’s trade and commodity prices as a catalyst for the next move.

RATES: Yields in global markets fell last night with German 10 year yields touching a record low. Despite the higher yields seen locally in the wake of yesterday's RBA statement, we would expect a drop in yields today.

COMMODITIES: The release of China’s commodity trade data today should provide some indication as to whether China’s recent subdued economic data has hurt import demand."