[Video] Chinese trade balance data to reveal effects of US tariffs

AxiTrader Analyst, James Hughes looks ahead to next week

After what has been a huge few days for markets with highlights including non farm payrolls and rate calls from both the UK and US, next week looks a little quieter.

However we do have Chinese trade balance data set for release on Wednesday. This can be a tricky number to trade, but last month we saw the surplus build as imports fell in the wake of tariff restrictions. The upshot was broad based support for global equities.

It’s worth bearing in mind that as the world’s second largest economy, if China sneezes, we could all end up catching a cold.

Revised UK Q2 GDP data on Friday will also be one to watch. After Mark Carney’s caution over the country’s economic outlook on Thursday, a downward revision here would validate that view – and potentially give the pound another beating, too.