The Aussie could extend its gains next week unless the RBA’s monetary policy meeting minutes on Tuesday convey a surprisingly dovish message or the Australian employment numbers on Thursday disappoint expectations. From the United States, next week’s key data include retail sales on Tuesday and industrial production and some housing market data on Wednesday.
In what would otherwise have been a quiet day ahead of a potentially volatile Friday, we saw the dollar index some sharp moves in three particular major currencies.
The dollar fell against a basket of currencies today as investors re-evaluated whether the Federal Reserve will raise interest rates this year, which also sent the higher-yielding Australian dollar to its loftiest level since late April.
Data-starved traders finally got some much needed morsels to chew on, namely the AU employment report in today’s Asian session and this morning’s BOE “Super Thursday” festivities.
