020 7898 0500Yesterday we saw the Australian dollar lose some of the strength previously gained against most of its major rivals, despite positive New Motor Vehicles Sales data, which saw a 2.2% improvement on the previous month, and a 1.7% improvement compared to last year’s figure. Other than that, it was a quiet day for the currency. With virtually no data released yesterday from Australia and New Zealand, much of their currencies’ strength has been fuelled by strong data from China, as well as a possible deal amongst the world’s largest oil-producing countries.
This morning the Australian economy has seen its most important economic data out early hours of the morning, when the Reserve Bank of Australia (RBA) Meeting Minutes gave indication on the inflationary outlook of the economy.
This afternoon we expect some movement with the Australian dollar as all eyes will be on RBA Governor Glenn Stevens’s speech. The speech will be a key indication as to how the central bank sees the Australian economy. Positive or negative comments could cause swings in Australian dollar markets.
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