Economic data to impact the Australian Dollar this week (Daniel Wright)

Australian Dollar Forecast – Unemployment Weighs on Sentiment

We have plenty of data out this week to move Australian Dollar exchange rates both from Australia and China.

On Tuesday morning Australian time we have inflation data from China and business confidence from Australia, both of which may lead to a volatile day of trading ahead.

Wednesday brings consumer confidence figures, home loan data and then Governor of the RBA Glenn Steven’s speech in the latter part of Wednesday morning’s trading.

Thursday is a little quieter with new loans and money supply data from China early in the morning and then on Friday we have Chinese Retail Sales, urban investment and industrial production.

The Australian Dollar has had a good run of form against Sterling lately, almost breaking through the 1.70 mark as I write this, and personally I would not be surprised to see rates come back up to the mid 1.70s this week however this does depend on post referendum data that we see released from the U.K as the next few weeks will show just how big the immediate impact was.

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