A short report today as I’m running a little behind schedule. But the key message is AUD has lost some ground since yesterday, which isn’t surprising after such a strong run higher. Economic data out of China yesterday was strong with industrial production, retail sales and GDP all appearing to have bottomed out.
Ahead today is monetary policy minutes from the RBA around 11.30am which again should paint a clearer picture on the RBA’s next rate move and their thoughts on the economy.
AUD EXCHANGE RATES:
AUD/USD – 0.7791
AUD/GBP – 0.5968
AUD/EUR – 0.6788
AUD/NZD – 1.0712
AUD/JPY – 87.773
DATA RELEASES TODAY:
AUD – Monetary Policy Minutes at 11.30am
GBP – CPI at 6.30pm
***Above rates are indicative wholesale rates and intended as a guide only***
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Patrick Downes
Senior Corporate FX Dealer
Phone Patrick – 0431 278 632
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