Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow
China marco data
Data from China on trade is expected to show a fall in both exports and imports for October as the world’s second largest economy presses on with plans to move its main focus away from manufacturing toward a service-based economy.
Commodities such as gold and copper are highly sensitive to Chinese data macro data as the China is largest consumer of commodities.
U.S. crude oil stockpiles to show fourth-straight weekly increase?
A fresh batch of inventory data from the Energy Information Administration (EIA) on Wednesday is expected to show that draw in U.S. crude stockpiles.
Analysts forecast crude inventories rose by about 2.1 million barrels for the week ended Nov. 4.
Crude oil prices have made a volatile start to the week, paring some of Monday’s 3.1% gains as traders weighed the ongoing political turmoil in the Middle East against expectations of an uptick in U.S. output shale output.
Crude oil futures settled at $57.20, down 15 cents, on Tuesday.
Its rate decision day... In New Zealand
The Reserve Bank of New Zealand (RBNZ) is slated to reveal its decision on interest rates Wednesday 15:00 ET, widely expected to remained unchanged at 1.75%.
The Reserve Bank of New Zealand faces reforms to its mandate after New Zealand prime minister-designate Jacinda Ardern said in October that her government wants to add employment to the central bank’s mandate, alongside inflation, to give it a dual target.
Ahead of the RBNZ decision on interest rates, NZD/USD fell 0.69% to $0.6902.