Last week’s high: AU$1.8414
Last week’s low: AU$1.8067
Australian Dollar Boosted by Trade Optimism
The Pound fell heavily against the Australian Dollar last week, as hopes of a trade truce between the US and China saw investors willing to make some bullish bets on AUD.
The ‘Aussie’ was also supported by comments from the Reserve Bank of Australia’s (RBA) Philip Lowe who questioned the effectiveness of additional rate cuts.
Meanwhile, Sterling remained in the doldrums last week as continued political uncertainty and some worrying retail data weighed on sentiment.
AUD Outlook: Dovish RBA to Weaken the ‘Aussie’?
Looking to the week ahead, the spotlight is likely to be on the RBA’s latest rate decision.
The RBA cut interest rates to a record low last month, but there is speculation that a second cut could be on the cards.
If the RBA does indeed cut borrowing costs the Australian Dollar could tumble.
09:30 UK Manufacturing PMI (Jun)
09:30 UK Mortgage Approvals (May)
05:30 AU RBA Rate Decision
09:30 UK Construction PMI (Jun)
02:30 AU Trade Balance (May)
09:30 UK Services PMI (Jun)
02:30 AU Retail Sales (May)
08:30 UK Halifax House Price Index (Jun)
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