Positive data releases and improved risk sentiment pushed the Aussie higher last week. Which catalysts can affect the comdoll this week?
Lower-tier economic reports
After last week’s RBA, retail sales, and trade balance parade, the Land Down Under will take a chill pill and only produce lower-tier economic reports.
Specifically, ANZ’s job ads will come out at today at 2:30 am GMT; the home loans report will be printed tomorrow at 2:30 am GMT; Westpac’s consumer sentiment is out on Wednesday at 1:30 am GMT; the MI inflation expectations will come out on Thursday at 2:00 am GMT, and the RBA’s bi-annual financial stability review is scheduled on Friday at 2:30 am GMT.
While these reports don’t usually influence the Aussie’s prices for long, they could help support the comdoll’s intraweek trends especially if they all lean towards a bullish or bearish bias.
China’s data dump
Aussie bulls and bears probably won’t see data-related volatility until Friday when China prints a bunch of closely-watched economic reports during the Asian session.
The dollar-denominated trade balance data is expected to print a much wider surplus in March, as exports is seen to outpace annualized imports growth.
Industrial production is expected to slow down by 0.5%, however, after seeing a nice 1.4% monthly growth in January.
Last but not the least is the foreign direct investment so far this year, which showed a 5.5% growth rate from a year ago in February.
Overall risk sentiment
While the RBA’s lack of dovishness and a somewhat supportive stimulus package might have influenced it, the Aussie was also boosted by risk-on headlines from last week.
This week, factors such as the ECB’s policy decision, U.K.’s monthly GDP, and Brexit-related headlines could make or break the Aussie’s uptrend from the previous week.
Stay glued to the tube for these reports, will ya?
Missed last week’s price action? Read AUD’s price recap for April 1 – 5!