Here is a quickie on the Australian dollar from CBA this morning:
First, the prediction:
- AUD/USD will continue to trade within a 0.7620-0.7750 range this week
What to watch for today:
- RBA Deputy Governor Guy Debelle speaks today on 'Business Investment in Australia° (9am Sydney)
What to watch for this week::
- In Australia. the October labour market data (Thu) and the Q3 wage price index (Wed) will be supportive for AUD in our view
- But disappointing Chinese October economic data on Tuesday can temporarily weigh on commodity prices and curtail AUD/USD upside
- We see some downside risks to Chinese October fixed asset investment and industrial production growth as a result of fresh environmental protection drive and intensifying housing curbs
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CBA referring to a big day for Chinese economic data due on Tuesday:
- Due at 0200 GMT Tuesday 14 November 2017
- October data for Industrial Production, Fixed Assets (excluding rural), and Retail Sales
