Markets have remained relativiely range bound so far this week in the absence of any news or economic announcments, however it all picks up pace again today and this evening with a raft of data due out. Local monetary policy minutes kickstart the day at 11.30am, followed by German GDP at 6.00pm this evening and then U.K CPI and US retail sales.
Commoditiy prices – something I haven’t spoken about for a little while – have also rebounded of late, with the star performers being coal, iron ore and copper. Precious metals such as Gold have however fallen as market risks have resided following infrastructure optimism surrounding Drumpfs election as the next U.S President. Strong commoditiy prices are probably one of the reasons the Aussie has remained resilient as our economy relies heavily on the above mentioned commodities which have recently strongly rebounded.
DATA RELEASES TODAY:
AUD – Monetary Policy Minutes at 11.30am
EUR – German GDP at 6.00pm
GBP – U.K CPI at 8.30pm
USD – Core Retail Sales at 12.30am
AUD EXCHANGE RATES:
AUD/USD – 0.7553
AUD/GBP – 0.6041
AUD/EUR – 0.7032
AUD/NZD – 1.0605
AUD/JPY – 81.881
***Above rates are indicative wholesale rates and intended as a guide only***
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