Australia will kick off the data menu today in Asia. A lot of focus on copper and iron ore (and China) to help account for the AUD sell off since the weekend’s Chinese trade deficit, but we’ll see how the data (and speech) impact today.

2330GMT:

  • Westpac Consumer Confidence Index (s.a.) for March m/m, prior was -3.0% to 100.2

0030GMT (and the main data event): Australian housing finance for January 2014

  • Home loans m/m, expected is +0.5%, prior was -1.9%
  • Investment lending m/m, prior was +2.9%
  • Owner-occupied loan value m/m, prior was -1.5%

Much later today, at 6pm local time (0700GMT), Speech by Philip Lowe, Deputy Governor of the RBA. The topic is Demographics, Productivity and Innovation to the Sydney Institute, Sydney

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AUD/USD responding to more China-induced worries. Initial resistance 0.8980/85 then again at 0.8995/00, initial support around 0.8950/60 – full orderboard will be up soon