1Finance

The Australian dollar struggled with the highs but did not give up on these levels, despite RBA pressure. Where next? The upcoming week features speeches from central bankers as well as important surveys.

1. AIG Construction Index: Sunday, 23:30. This 200-strong survey by the Australian Industry Group has been on the high ground in the past two months, above 56, reflecting robust growth in the sector.
2. ANZ Job Advertisements: Monday, 1:30.
3. NAB Business Confidence: Tuesday, 1:30.
4. Chinese trade balance: Tuesday, 2:00. China is Australia’s No. 1 trade partner. A rise in China’s imports implies an increase in Australian exports. China enjoys a significant surplus. In Chinese yuan terms, the surplus is expected to slip from 294K to 292K. In US dollars, the surplus is predicted to widen from 42.8 billion to 45.3 billion.
5. Christopher Kent talks: Tuesday, 22:35. Kent is the RBA Assistant Governor and he speaks in Sydney.
6. Westpac Consumer Sentiment: Wednesday, 00:30.
7. Home Loans: Wednesday, 1:30.
8. Chinese inflation data: Wednesday, 1:30. Rises in Chinese prices imply growth, thus moving the Australian dollar. Producer prices were up 5.5% y/y in June are now expected to accelerate to 5.6%. Consumer prices are predicted to remain unchanged at 1.5%. Australian commodity prices are also reflected in producer prices.
9. MI Inflation Expectations: Thursday, 1:00.
10. Philip Lowe talks: Thursday, 23:30. The Governor of the RBA makes an official testimony in Melbourne.

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