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The NFP data tomorrow is likely going to be the market-mover of the day. In all that hubbub, the trade balance might just slip by undetected.
Now, of course, it’s not exactly something you need to have your finger on the button for when it comes to trading. However, it is a major driver of US economic policy, foreign policy and the value of the dollar.
So, it’s definitely still something to keep in mind. Especially now with the fluid situation around COVID-19 and trade relations with China.
One of the things to remember is that, generally, trade balance data is a bit delayed. Therefore, we’ll be getting the figures from January this time around.
January was already going to have a week of trade with China missing, due to the Lunar New Year, with companies stocking up in advance. But then factories and many ports were closed after the holiday to deal with coronavirus effects.
However, trade orders were still going through, and the disruption due to the virus is likely ...
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