The Aussie dollar fell quite dramatically Friday night losing as much as 150 points or 2% vs. the Greenback. The catalyst for the move lower was comments from U.S Federal Reserve Chairwomen Janet Yellen who’s hawkish/bullish comments made very clear that interest rates will begin to rise again in the U.S, perhaps as soon as next month. We’ve also seen local equities come of the boil along with iron ore over the past week or so – needless to say with a decent amount of my own super in stocks I’ll be watching this closely.
Ahead today is local building approvals with economists tipping no growth at all in the number of building approvals. Later in the week is U.S consumer confidence followed by non-farm employment figures on Friday night. For the Aussie we’ll see the latest batch of retail sales and private capital expenditure on Thursday.
DATA RELEASES TODAY:
AUD – Building Approvals at 11.30am
USD – CB Consumer Confidence at midnight
AUD EXCHANGE RATES:
AUD/USD – 0.7575
AUD/GBP – 0.5778
AUD/EUR – 0.6771
AUD/NZD – 1.0439
AUD/JPY – 77.221
***Above rates are indicative wholesale rates and intended as a guide only***
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Senior Corporate FX Dealer