It’s a big day for…….Australia, and the Aussie dollar for that matter with both retail sales and Scott Morrison’s second Budget due for release later this evening – 7.30pm to be precise. While we’re not expecting anything out of the ordinary with respect to retail sales, the Annual Budget is expected to be a show stopper and therefore also a key driver for the Aussie dollar through the rest of this week. Some key things likely to be addressed in the budget include measures to contain the very frothy east coast housing market, infrastructure plans to support Perth and WA, the Aussie dollar and it’ll also be quite interesting to see what kind of price they forecast for iron ore through 2017-18.
DATA RELEASES TODAY:
AUD – Retail Sales at 11.30am
AUD – Annual Budget Release at 7.30pm
AUD EXCHANGE RATES:
AUD/USD – 0.7332
AUD/GBP – 0.5653
AUD/EUR – 0.6707
AUD/NZD – 1.0625
AUD/JPY – 83.117
***Above rates are indicative wholesale rates and intended as a guide only***
Sign up for a Compass account today and access some of the most competitive rates in the business and arguably the best service.
{{cta(‘b4d1fdf3-9b81-4df4-87c2-23257194f470’)}}
Patrick Downes
Senior Corporate FX Dealer
Phone Patrick – 0431 278 632
{{cta(’22fd720b-8ddc-4846-85e4-6ab59d459f68′)}}
