The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported.
A higher than expected reading should be taken as positive/bullish for the KRW, while a lower than expected reading should be taken as negative/bearish for the KRW.
Exports free on board (f.o.b.) and Imports cost insurance freight (c.i.f.) are, in general, customs statistics reported under the general trade statistics according to the recommendations of the UN International Trade Statistics. For some countries Imports are reported as f.o.b. instead of c.i.f. which is generally accepted. When reporting Imports as f.o.b. you will have the effect of reducing the value of Imports by the amount of the cost of insurance and freight.
A higher than expected number should be taken as positive to the KRW, while a lower than expected number as negative.
Exports of goods and services consist of transactions in goods and services (sales, barter, gifts or grants) from residents to non-residents. Exports free on board (f.o.b.) and imports cost insurance freight (c.i.f.) are, in general, customs statistics reported under the general trade statistics according to the recommendations of the UN International Trade Statistics.
A higher than expected number should be taken as positive to the KRW, while a lower than expected number as negative.
The Rightmove House Price Index (HPI) measures the change in the asking price of homes for sale. This is the U.K.'s earliest report on house price inflation, but tends to have a mild impact because asking prices do not always reflect selling prices.
A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.
The Rightmove House Price Index (HPI) measures the change in the asking price of homes for sale. This is the U.K.'s earliest report on house price inflation, but tends to have a mild impact because asking prices do not always reflect selling prices.
A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.
The HPI is based on transactions involving conventional and conforming mortgages - only on single-family properties.It is a weighted, repeat-sales index, which means that it measures average price changes in repeat sales or refinancings on the same properties.Percent change from a year earlier, 70 medium and large cities. It is a weighted average calculated by Thomson Reuters.A higher than expected reading should be taken as positive/bullish for the CNY , while a lower than expected reading should be taken as negative/bearish for the CNY.
Chinese Fixed Asset Investment measures the change in the total spending on non-rural capital investments such as factories, roads, power grids, and property.
A higher than expected reading should be taken as positive/bullish for the CNY, while a lower than expected reading should be taken as negative/bearish for the CNY.
Industrial Production measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.
A higher than expected reading should be taken as positive/bullish for the CNY, while a lower than expected reading should be taken as negative/bearish for the CNY.
Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.
A higher than expected reading should be taken as positive/bullish for the CNY, while a lower than expected reading should be taken as negative/bearish for the CNY.
The National Bureau of Statistics of China (NBS) press conference publishes statistics related to the economy, population and society of the People's Republic of China at the national and local levels.
The Chinese unemployment rate measures the percentage of the total urban work force that is unemployed and actively seeking employment during the reported month.
A higher than expected reading should be taken as negative/bearish for the CNY,
while a lower than expected reading should be taken as positive/bullish for the CNY.
Industrial Production measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.
A higher than expected reading should be taken as positive/bullish for the CNY, while a lower than expected reading should be taken as negative/bearish for the CNY.
Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.
A higher than expected reading should be taken as positive/bullish for the CNY, while a lower than expected reading should be taken as negative/bearish for the CNY.
The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported.A higher than expected reading should be taken as positive/bullish for the PEN , while a lower than expected reading should be taken as negative/bearish for the PEN.
Consumer Price index is the most frequently used indicator of inflation and reflect changes in the cost of acquiring a fixed bask of goods and services by the average consumer. The weights are usually derived from household expenditure surveys. From 1995 the weight structure is based on the European National Accounting System Classification of Individual Consumtion by Purpose (COICOP).The consumer price index (CPI) is a measure of change over a specified period of time in the general level of prices of goods and services that a given population acquires, uses or pays for consumption. It compares a household's cost for a specific basket of finished goods and services with the cost of the same basket during an earlier benchmark period.A higher than expected reading should be taken as positive/bullish for the EUR , while a lower than expected reading should be taken as negative/bearish for the EUR.
The consumer price index (CPI) is a measure of change in the general level of prices of goods and services bought by households over a specified period of time. It compares a household's cost for a specific basket of finished goods and services with the cost of the same basket during an earlier benchmark period. The consumer price index is used as a measurement of inflation and is a key economic figure. Likely impact: 1) Interest Rates: Larger-than-expected quarterly increase in price inflation or increasing trend is considered inflationary; this will cause bond prices to drop and yields and interest rates to rise. 2) Stock Prices: Higher than expected price inflation is bearish on the stock market as higher inflation will lead to higher interest rates. 3) Exchange Rates: High inflation has an uncertain effect. It would lead to depreciation as higher prices mean lower competitiveness. Conversely, higher inflation causes higher interest rates and a tighter monetary policy that leads to an appreciation.
The consumer price index (CPI) is a measure of change in the general level of prices of goods and services bought by households over a specified period of time. It compares a household's cost for a specific basket of finished goods and services with the cost of the same basket during an earlier benchmark period. The consumer price index is used as a measurement of inflation and is a key economic figure. Likely impact: 1) Interest Rates: Larger-than-expected quarterly increase in price inflation or increasing trend is considered inflationary; this will cause bond prices to drop and yields and interest rates to rise. 2) Stock Prices: Higher than expected price inflation is bearish on the stock market as higher inflation will lead to higher interest rates. 3) Exchange Rates: High inflation has an uncertain effect. It would lead to depreciation as higher prices mean lower competitiveness. Conversely, higher inflation causes higher interest rates and a tighter monetary policy that leads to an appreciation.
The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.
A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.
The Wholesale Price Index (WPI) measures the change in the price of goods sold by wholesalers.
The higher this number is the stronger the affect on consumer inflation.
A higher than expected reading should be taken as positive/bullish for the INR,
while a lower than expected reading should be taken as negative/bearish for the INR.
The Wholesale Price Index (WPI) measures the change in the price of goods sold by wholesalers. It is a leading indicator of consumer price inflation.
A higher than expected reading should be taken as positive/bullish for the EUR,
while a lower than expected reading should be taken as negative/bearish for the EUR.
Commodity flows between the Norwegian statistical territory and other countries.The Norwegian statistical territory comprises the Norwegian customs territory, the Norwegian part of the continental shelf, Svalbard, Björnöya and Jan Mayen. Imports comprise goods that are declared directly at the border crossing or via a customs' warehouse. Imports of ships and oil platforms are transactions where a vessel is transferred from a foreign to a Norwegian company as registered owner of the vessel. Exports comprise goods declared for exports directly from free circulation and from customs warehouses. Exports of ships and oil platforms are transactions where a vessel is transferred from a Norwegian to a foreign company as registered owner of the vessel. In the external trade statistics the term ""traditional goods"" means goods exclusive of ships and oil platforms and exports also exclusive of crude oil and natural gas.A higher than expected reading should be taken as positive/bullish for the NOK , while a lower than expected reading should be taken as negative/bearish for the NOK.
The Wholesale Price Index (WPI) measures the change in the price of goods sold by wholesalers. It is a leading indicator of consumer price inflation.
A higher than expected reading should be taken as positive/bullish for the EUR,
while a lower than expected reading should be taken as negative/bearish for the EUR.
The industrial production index is calculated by using the selective method
comprising a representative sample of products and services. The evolution of
industrial production is established based on the physical volume index, which
is calculated from the series of representative products at the level of each
industrial branch, and also on the basis of the weight of these products,
calculated according to value added, using the Laspeyres-type formula.
The industrial production index (IPI) is a volume index of Laspeyres type and
measures the evolution results of industrial activities from one period to
another.
Industrial Production measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.
A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.
A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food and medical care. The CPI is calculated by taking price changes for each item in the predetermined basket of goods and averaging them; the goods are weighted according to their importance. Changes in CPI are used to assess price changes associated with the cost of living.
A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food and medical care. The CPI is calculated by taking price changes for each item in the predetermined basket of goods and averaging them; the goods are weighted according to their importance. Changes in CPI are used to assess price changes associated with the cost of living.
The Producer Price Index (PPI) measures the change in the price of goods sold by manufacturers. It is a leading indicator of consumer price inflation, which accounts for the majority of overall inflation.
A higher than expected reading should be taken as positive/bullish for the CHF, while a lower than expected reading should be taken as negative/bearish for the CHF.
The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported.
A higher than expected reading should be taken as positive/bullish for the INR, while a lower than expected reading should be taken as negative/bearish for the INR.
The Producer Price Index (PPI) measures average changes in prices received by domestic producers for their output. It is a leading indicator of consumer price inflation, which accounts for the majority of overall inflation. Usually a rise in PPI will lead in a short time to a rise in CPI and therefore to a rising interest rates and rising currency. during recession, the producers are not able to roll over the rising cost of material to the consumer, so a rise in PPI will not be rolled over to the consumer but will lower the profitablility of the producer and will deepen the recession, that will lead to a fall in local currency.
The exports figure provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis.. A higher than expected number should be taken as positive to the INR, while a lower than expected number as negative
The Imports number measures any good or service brought into India from another country in a legitimate fashion, typically for use in trade. Import goods or services are provided to domestic consumers by foreign producers. A lower than expected number should be taken as positive to the INR, while a higher than expected number as negative
The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.A higher than expected reading should be taken as positive/bullish for the EUR , while a lower than expected reading should be taken as negative/bearish for the EUR.
Turkish Budget Balance is a legal document that forecasts the government expenditures and revenues for a specific period of time. The period covered by a budget is usually a year, known as a financial or fiscal year, which may or may not correspond with the calendar year. A government budget is often passed by the legislature, and approved by the chief executive or president.
The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.A higher than expected reading should be taken as positive/bullish for the EUR , while a lower than expected reading should be taken as negative/bearish for the EUR.
Core inflation quantifies growth rate of price level on incomplete consumer basket. From the consumer basket there are excluded the items with regulated prices and items with prices influenced by other administrative measurements. The items that will be changed due to tax amendments (e.g. changes in VAT, excise taxes) remain in the consumer basket, but the influence of tax amendmentsis eliminated.
Core inflation quantifies growth rate of price level on incomplete consumer basket. From the consumer basket there are excluded the items with regulated prices and items with prices influenced by other administrative measurements. The items that will be changed due to tax amendments (e.g. changes in VAT, excise taxes) remain in the consumer basket, but the influence of tax amendmentsis eliminated.
The South African Reserve Bank's (SARB) Bulletin contains articles, speeches and statistical tables and gives a detailed insight into current and future economic conditions from the bank's point of view.
The Corporate Goods Price Index (CGPI) measures the change in the selling prices of goods purchased by Japanese corporations. The CGPI measures the change in the rate of inflation in Japan from the perspective of the manufacturer and is correlated with consumer price inflation.
A higher than expected reading should be taken as positive/bullish for the JPY, while a lower than expected reading should be taken as negative/bearish for the JPY.
The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.
A higher than expected reading should be taken as positive/bullish for the PLN, while a lower than expected reading should be taken as negative/bearish for the PLN.
The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation. The impact on the currency may go both ways, a rise in CPI may lead to a rise in interest rates and a rise in local currency, on the other hand, during recession, a rise in CPI may lead to a deepened recession and therefore a fall in local currency.
The current account is the international flow of money for purposes other than investments. It offers a broad picture of how an economy is managing its finances with the rest of the world. If a country has a deficit in its current account it means that it has a saving deficit. The country is living above its means and is gradually becoming indebted to the world.
Current account records the values of the following:
- trade balance,exports and imports of goods and services
- income payments and expenditure, interest, dividends, salaries
- unilateral transfers, aid, taxes, one-way gifts It shows how a country deals with the global economy on a non-investment basis.
Positive current account balance is when inflows from its components into the country exceed outflows of the capital leaving the country. Current account surplus may strengthen the demand for local currency. Persistent deficit may lead to a depreciation of a currency.
Industrial Production measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.
A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.
Industrial production is a measure of output of the industrial sector of the economy. The industrial sector includes manufacturing, mining, and utilities. Although these sectors contribute only a small portion of GDP (Gross Domestic Product), they are highly sensitive to interest rates and consumer demand. This makes Industrial Production an important tool for forecasting future GDP and economic performance.. A higher than expected number should be taken as positive to the EUR, while a lower than expected number as negative.
The IGP-10 Inflation Rate measures the change in the price of goods and services from last month's 11th day to the current month's 10th. A higher than expected reading should be taken as negative/bearish for the BRL, while a lower than expected reading should be taken as positive/bullish for the BRL.
The Focus Market Report provides weekly mean market expectations for inflation over following month, 12 months, and following year as well as expectations for Selic target rate, real GDP growth, net public sector debt/GDP, industrial production growth, current account, and trade balance, collected from over 130 banks, brokers, and funds managers.
The IBC-Br is widely considered to reflect gross domestic product data. It is the Index of Economic Activity of the Central Bank in BrazilA higher than expected reading should be taken as positive/bullish for the BRL , while a lower than expected reading should be taken as negative/bearish for the BRL.
CPI based on the prices of a union market basket of commodities purchased and consumed by a representatives set of households in selected centers from all over the country, especially since the indices from one centre to another made comparability difficult. consumer price index to measure average change in the price of goods and services purchased by the specified groups of consumers.
The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling. Central banks attempt to stop severe inflation, along with severe deflation, in an attempt to keep the excessive growth of prices to a minimum.
The Current Account index measures the difference in value between exported and imported goods, services and interest payments during the reported month. The goods portion is the same as the monthly Trade Balance figureA higher than expected reading should be taken as positive/bullish for the PLN , while a lower than expected reading should be taken as negative/bearish for the PLN.
Housing starts measures the change in the annualized number of new residential buildings that began construction during the reported month. It is a leading indicator of strength in the housing sector.
A higher than expected reading should be taken as positive/bullish for the CAD, while a lower than expected reading should be taken as negative/bearish for the CAD.
The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. The CPI measures price change from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.
A higher than expected reading should be taken as positive/bullish for the CAD, while a lower than expected reading should be taken as negative/bearish for the CAD.
The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.
A higher than expected reading should be taken as positive/bullish for the CAD, while a lower than expected reading should be taken as negative/bearish for the CAD.
Manufacturing Sales measures the change in the overall value of sales made at the manufacturing level.
A higher than expected reading should be taken as positive/bullish for the CAD, while a lower than expected reading should be taken as negative/bearish for the CAD.
The Empire State Manufacturing Index rates the relative level of general business conditions New York state. A level above 0.0 indicates improving conditions, below indicates worsening conditions. The reading is compiled from a survey of about 200 manufacturers in New York state.
A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.
A higher than expected reading should be taken as positive/bullish for the CAD, while a lower than expected reading should be taken as negative/bearish for the CAD.
The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer excluding foos and energy, wom prices tend to be very volatile. It is a key way to measure changes in purchasing trends and inflation. The impact on the currency may go both ways, a rise in CPI may lead to a rise in interest rates and a rise in local currency, on the other hand, during recession, a rise in CPI may lead to a deepened recession and therefore a fall in local currency.
The figures displayed in the calendar represent the average yield on the Bons du Trésor à taux fixe or BTF auctioned.
French BTF bills have maturities of up to 1 year. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital.
The yield on the BTF represents the return an investor will receive by holding the treasury for its entire duration. All bidders receive the same rate at the highest accepted bid.
Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security.
The figures displayed in the calendar represent the average yield on the Bons du Trésor à taux fixe or BTF auctioned.
French BTF bills have maturities of up to 1 year. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital.
The yield on the BTF represents the return an investor will receive by holding the treasury for its entire duration. All bidders receive the same rate at the highest accepted bid.
Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security.
The figures displayed in the calendar represent the average yield on the Bons du Trésor à taux fixe or BTF auctioned.
French BTF bills have maturities of up to 1 year. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital.
The yield on the BTF represents the return an investor will receive by holding the treasury for its entire duration. All bidders receive the same rate at the highest accepted bid.
Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security.
The National Association of Home Builders (NAHB) Housing Market Index (HMI) rates the relative level of current and future single-family home sales. The data is compiled from a survey of around 900 home builders. A reading above 50 indicates a favorable outlook on home sales; below indicates a negative outlook.
A higher than expected reading should be taken as positive/bullish for the USD,
while a lower than expected reading should be taken as negative/bearish for the USD.
Industrial Production measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.
A higher than expected reading should be taken as positive/bullish for the COP, while a lower than expected reading should be taken as negative/bearish for the COP.
Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy's health.
A higher than expected reading should be taken as positive/bullish for the PEN, while a lower than expected reading should be taken as negative/bearish for the PEN.
The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment.
A higher than expected reading should be taken as negative/bearish for the PEN, while a lower than expected reading should be taken as positive/bullish for the PEN.
Retail sales data represents total consumer purchase from retail stores. It provides valuable information about consumer spending which makes up the consumption part of GDP. The most volatile components like autos, gas prices andfood prices are often removed from the report to show more underlying demand patterns as changes in sales in these categories are frequently a result of price changes. It is not adjusted for inflation. Spending on services is not included. Rising retail sales indicate stronger economic growth. However, if theincrease is larger than forecast, it may be inflationary.
The figures displayed in the calendar represent the rate on the Treasury Bill auctioned.
U.S. Treasury Bills have maturities of a few days to one year. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital. The rate on a Treasury Bill represents the return an investor will receive by holding the bill for its entire duration. All bidders receive the same rate at the highest accepted bid.
Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security.
The CPI indicator measures the change in prices which consumers must pay for a fixed basket of consumption goods and services in urban areas. All goods and services intended for consumption including applicable taxes and fees on the product at the time of sales are included in the survey. A higher than expected reading should be taken as positive/bullish for the ILS , while a lower than expected reading should be taken as negative/bearish for the ILS.
The figures displayed in the calendar represent the rate on the Treasury Bill auctioned.
U.S. Treasury Bills have maturities of a few days to one year. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital. The rate on a Treasury Bill represents the return an investor will receive by holding the bill for its entire duration. All bidders receive the same rate at the highest accepted bid.
Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security.
The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation, All goods and services intended for consumption including applicable taxes and fees on the product at the time of sales are included in the survey. The impact on the currency may go both ways, a rise in CPI may lead to a rise in interest rates and a rise in local currency, on the other hand, during recession, a rise in CPI may lead to a deepened recession and therefore a fall in local currency.
Trade balance, called also net export, is the difference between the value of country's exports and imports, over a period of time. A positive balance (trade surplus) means that exports exceed imports, a negative one means the opposite. Positive trade balance illustrates high competitiveness of country's economy. This strengthens investors' interest in the local currency, appreciating its exchange rate.
The Food Price Index (FPI) measures the change in the cost of food and food services purchased by households.
A higher than expected reading should be taken as positive/bullish for the NZD, while a lower than expected reading should be taken as negative/bearish for the NZD.
The Australian Manufacturing Purchasing Managers Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance. A higher than expected reading should be taken as positive/bullish for the AUD, while a lower than expected reading should be taken as negative/bearish for the AUD.
The Australian Services Purchasing Managers Index (PMI) measures the activity level of purchasing managers in the services sector. The report is based on surveys of over 300 business executives in private sector services companies. Each response is weighted according to the size of the company and its contribution to total manufacturing or services output accounted for by the sub-sector to which that company belongs. Replies from larger companies have a greater impact on the final index numbers than those from small companies. Results are presented by question asked, showing the percentage of respondents reporting an improvement, deterioration or no change since the previous month.From these percentages, an index is derived: a level of 50.0 signals no change since the previous month, above 50.0 signals an increase (or improvement), below 50.0 a decrease (or contraction). Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance. A higher than expected reading should be taken as positive/bullish for the AUD , while a lower than expected reading should be taken as negative/bearish for the AUD.
The Westpac Consumer Sentiment Index measures the change in the level of consumer confidence in economic activity.
On the index, a level above 100.0 indicates optimism; below indicates pessimism.
The data is compiled from a survey of about 1,200 consumers which asks respondents to rate the relative level of past and future economic conditions.
A higher than expected reading should be taken as positive/bullish for the AUD, while a lower than expected reading should be taken as negative/bearish for the AUD.
