AUDUSD traded higher in the opening of Monday’s markets on the back of stronger commodities prices and the chances on the US Federal Reserve to slow the pace of any interest rate hikes.
SPI up 29 points following a strong trading end in the US buoyed by a proposed tax cuts in the US, with local Miners putting in a strong performance and ANZ Bank announcing a share buyback program. As we are winding down to the last trading weeks for 2017, there are not many directions investors can look for other than the unemployment rate coming out of US & Monetary Policy out coming out of Japan.
DATA RELEASES THIS WEEK:
Monday:
AUD – New Motor Vehicle Sales m/m & Mid-Year Economic and Fiscal Outlook
EUR – Final CPI y/y & Final Core CPI y.y
Tuesday:
USD – NAHB Housing Market Index, Building Permits
AUD – Monetary Policy Meeting Minutes
Wednesday:
AUD – CB Leading Index m/m
USD – FOMC Member Kashkari Speaks
GBP – BOE Gov Carney Speaks
Thursday:
CNY – CB Leading Index m/m
USD – Crude Oil Inventories, Final GDP q/q & Unemployment Claims
NZD – GDP q/q
JPY – Monetary Policy Statement, BOJ Policy Rate & BOJ Policy Press Conference
CAD – CPI m/m
Friday:
GBP – Current Account
CAD – GDP m/m
USD – Core Durable Goods Orders m/m
Andrew Law
General Manager