Next week we have a flurry of economic data which will have an impact on Australian Dollar exchange rates after a fairly quiet end to the trading month.
On Tuesday we have the RBA (Reserve Bank of Australia) interest rate decision, shortly followed by the interest rate statement. At the last interest rate decision we saw no changes to rates and on top of this we also had comments that the RBA would more than likely not be looking to cut interest rates in the near future. The reason for this is to avoid adding to the current asset bubble they are witnessing and I would be surprised if that stance has changed.
It will be interesting to see if the general view going forward has altered at all and should there be any hint towards the RBA leaning towards a cut in interest rates then we may see the Australian Dollar weaken a little.
Later on in the week we have the release of Australian import and export data early on Thursday morning, and this will also have an impact on the value of the Australian Dollar due to exports being so key for the Australian economy.
We had a report released earlier this week suggesting that there actually is a rather high debt burden in Australia at present, with household debt rising extremely rapidly which may be a concern for Australia later down the line.
My personal opinion is that I can see a small period of Australian Dollar weakness coming up as there does appear to be a few different matters out there that may lead to the Australian Dollar getting a little weaker.
If you are in the position where you may need to buy or sell Australian Dollars in the coming days, weeks or months then it is extremely important that you have an experienced currency broker on your side. You are more than welcome to get in touch with me (Daniel Wright) personally and I will be able to help you, both in terms of securing the very best exchange rate and timing your transaction. This can make the difference of thousands of Dollars.
Feel free to email me (Daniel Wright) on [email protected] and I will be more than happy to speak with you personally to explain exactly how I can be of assistance.